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2019 (5) TMI 884 - AT - Income TaxQuantification of deduction u/s 80IC - Whether profits and losses of the eligible units were to be netted? - HELD THAT:- Identical issue already stands decided in favour of the assessee by the I.T.A.T. vide their orders passed in the case of M/s Milestone Gears Pvt. Ltd. (2019 (1) TMI 421 - ITAT CHANDIGARH) and Globe Precision Industries Pvt. Ltd.[2019 (1) TMI 531 - ITAT CHANDIGARH] which decisions had been rendered after considering the judgement of the Hon’ble jurisdictional High Court in the case of Him Teknoforge [2012 (9) TMI 162 - HIMACHAL PRADESH HIGH COURT ],and further since the Ld. DR has been unable to distinguish the said decisions before us ,the issue in the present appeals, we hold, stands squarely covered by the aforestated orders of the I. T.A.T.. Following the same we hold that the assessee is entitled to deduction u/s 80IC with respect to the profits earned by it from eligible units, ignoring the losses from other eligible units/undertakings. - Decided in favour of assessee.
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