Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (7) TMI 632 - HC - Income TaxDeduction u/s 80I - Service charge - Tribunal held that service charges were not profits and gains derived by the assessee from its industrial manufacturing activities therefore not deductable - Held that:- A plain reading of Section 80-I(1) and 80-I(2) would indicate that the ownership by the assessee of an industrial undertaking from which the assessee derives profits and gains is not a stipulated condition - The only thing that has to be seen is whether the source of the profit or gains is an industrial undertaking - The service charges are directly linked to the quantum of heavy water produced by Kribhco by operating and maintaining the Heavy Water Plant - Decided in favour of Assessee.
|