Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (6) TMI 819 - ITAT DELHIAssessment in the name of company amalgamated - order was passed in the name of non-existent entity - HELD THAT:- Both the A.O. and the Assessee/appellant herein were aware of the amalgamation and the Representative of the Assessee has participated in the assessment proceedings. The assessment order came to be passed on 14.01.2015 in the name of “M/s. Bioseed Research India Ltd. (since amalgamated with DCM Shriram Limited)”. It is also gathered from the assessment order that, though order mentioned the name as M/s. Bioseed Research India Ltd., but in the bracket, it has also been mentioned that “since amalgamated with DCM Shriram Limited”. Accordingly it cannot be said that order has been passed in the name of non existing company as the name of the amalgamated company has clearly been mentioned by the AO in the assessment order. Assessee (M/s DCM Shriram Ltd.) has participated in the assessment proceedings and the A.O. has rightly mentioned the name of Assessee as M/s. Bioseed Research India Ltd. (since amalgamated with DCM Shriram Limited)” and mere mentioning the name of both the Companies has not resulted in any hardship to the Assessee. Disallowance u/s 80IB(8A) - proof of carrying on research activities - royalty income from Hybrid Cotton Seeds - CIT(A) allowed deduction - HELD THAT:- As trade value received and paid by assessee in respect of technology of Mahyco Mansanto Biotech (I) Ltd. was separate from royalty income which have been received by the assessee company on which deduction u/s 80IB(8A) has been claimed - in the absence of anything on record to prove that the assessee has not carried out any research activities during the year under consideration in respect of Hybrid cotton seeds the disallowance has been deleted. The said observation of the ld CIT(A) neither erroneous nor suffers from infirmity, which requires no interference. Ground of the revenue dismissed. Disallowances u/s 80IB (8A) - miscellaneous income derived from operation profit - CIT-A allowed the claim - HELD THAT:- Since the Ld. CIT(A) has gone into the factual details of the miscellaneous income earned by the assessee and given a conclusion that the amount of Rs. 3,92,972/- is nothing but items of income related to research activities of the company, the same would be considered as business income on which the deduction u/s 80IB (8A) of the Act would be allowable, we find no error or infirmity in the order of CIT(A). Accordingly Ground of the Revenue is dismissed.
|