Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2019 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (7) TMI 91 - HC - Income TaxDeductions u/s 80 IB - profits are independently determinable for all the four units of the appellant - AO aggregated the income of all the units before considering eligible deduction u/s 80 IB - HELD THAT:- The Assessing Officer failed to consider that the gross total income of the assessee before deduction was ₹ 78,90,64,628/-, whereas in the case of Synco Industries Ltd. [2008 (3) TMI 13 - Supreme Court] The factual position was different. In the said case, the Assessing Officer, noticed that the gross total income of assessee therein before deductions under Section 80 IB is nil. Therefore, the appeal filed by the assessee is allowed and the order passed by the Tribunal dated 17.12.2008 is set aside and the order of CIT (Appeals) is restored and the substantial questions of law are answered in favour of the assessee.
|