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2020 (10) TMI 884 - HC - Income TaxDeduction u/s 80IA - only the profit making power generating unit of the assessee should be taken into account and not the loss making units in computing the total income of the assessee for its eligible business to allow deduction - HELD THAT:- As decided in E ASST. COMMISSIONER OF INCOME-TAX CIRCLE-11 (5) , BANGALORE [2020 (5) TMI 333 - KARNATAKA ] similar issue involved in this appeal is squarely covered by an order in the case of SWARNAGIRI WIRE INSULATIONS P. LTD. [2013 (2) TMI 202 - KARNATAKA HIGH COURT] - Decided against revenue. Disallowance u/s 14A - Substantial question of law - HELD THAT:- CIT (Appeals) as well as the Tribunal has recorded a finding that the assessee has invested a sum of ₹ 26,61,011/- from its own capital and the claim of the assessee for an amount of ₹ 14,40,471/- under Section 14A of the Act has been remitted to the Assessing Officer to decide the claim in accordance with law. The aforesaid concurrent findings of fact recorded by the Tribunal by no stretch of imagination can be said to be either perverse or based on no evidence. No element of perversity has been brought to our notice, therefore, it is not necessary for us to answer the aforesaid substantial question of law.
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