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2021 (7) TMI 690 - AT - Income TaxDisallowance of claim u/s 80IA/80IB - assessee should have adjusted the losses of other units with the profits of the two units - submission of the assessee that losses of the other units were not actual losses and have already been adjusted in the earlier year and therefore do not call for adjustment in the year under consideration, was not found acceptable to AO - HELD THAT:- CIT(A) while granting relief to the assessee has given a finding that during the relevant period, profits was derived from only 2 units and the computation of deduction u/s 80IA/IB has made as per the provisions of section 80IA(5). Before us, no fallacy in the findings of CIT(A) has been pointed out by the Revenue. In such a situation, we find no reason to interfere with the order of CIT(A), thus the ground of Revenue is dismissed. Denial of claim u/s 80M - AO was of the view that since no distribution of dividend was made by the assessee, it was not eligible for deduction u/s 80M - HELD THAT:- We find that CIT(A) while deciding the issue in favour of the assessee has given a finding that out of the total amount of ₹ 5.09 crore (rounded off) was received by the assessee by way of dividend and ₹ 3.97 crore (rounded off) was distributed as dividend to its share holders by the assessee. To support the contention of the distribution of the dividend, assessee had also filed a certificate to the CA for the relevant period. Before us, no fallacy in the findings of CIT(A) has been pointed by the Revenue - no interference of the CIT(A) is called for and thus the ground of the Revenue is dismissed.
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