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2019 (4) TMI 349 - AT - Income TaxEligible for deduction u/s 80IA - benefit of deduction unit-wise without setting off of loss / profit of other eligible units - whether each windmill constitute a separate undertaking and the profit or loss of that undertaking alone will be considered for the purpose of deduction u/s 80IA or the sum of profit or loss of all five undertakings together is eligible for deduction u/s 80IA - HELD THAT:- The co-ordinate bench of ITAT, Mumbai Bench “C” in the case of Punit Construction Co vs JCIT (2018 (2) TMI 1703 - ITAT MUMBAI] has considered an identical issue in light of number of windmills and after considering relevant provisions of the Act, including sub section (5) of section 80IA, held that deduction has to be given unit-wise without considering profit or loss of other eligible units. Also Referring to decision of Hon’ble Delhi High Court in the case of CIT vs Dewan Kraft Systems Pvt Ltd [2007 (2) TMI 149 - DELHI HIGH COURT] we are of the considered view that the Ld.CIT(A) was right in allowing the benefit of deduction u/s 80IA in respect of each unit without setting off of loss incurred by other eligible units. Hence, we are inclined to uphold the findings of CIT(A) and dismiss appeal filed by the revenue.
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