2014 (6) TMI 982 - HC - Income Tax

Appeal admitted on following substantial question of law - Whether Tribunal was justified in law in holding that income received by the assessee during the assessment year in question from services/erection charges of plants and accessories was not a part and parcel of the income which it derived from their manufacturing activities from eligible undertakings/enterprises and hence they were not entitled to claim deduction available to them under Section 80-IC of the Income Tax Act 1961 ?

Summary

The High Court of Gauhati admitted an appeal based on the substantial question of law regarding the eligibility of a deduction under Section 80-IC of the Income Tax Act, 1961. The Tribunal's decision on the income received by the assessee from services/erection charges was questioned. The appeal was accepted without issuing notice to the respondents, and the appellant's counsel was directed to provide necessary documents for further proceedings.