9911796707
TMI Blog2011 (8) TMI 659X X X X Extracts X X X X X X X X Extracts X X X X ..... he relevant assessment year 1996-97, the assessee filed its return of income which included the income derived as net commission to an extent of Rs. 26,12,576/-. The assessee accordingly claimed the deduction under Section 80-IA towards the said amount. The Assessing Officer disallowed the claim on the ground that the assessee has earned the commission as an agent to supply certain goods and hence, this cannot be the activity of the assessee. Aggrieved by the same, the assessee preferred an appeal to the Commissioner who dismissed it. Aggrieved by the same, the assessee preferred an appeal to the Tribunal, wherein the order of the Assessing Officer and Appellate Authority were confirmed and the appeal was dismissed. Hence the present appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the provisions of Section 80-IA have, been rightly interpreted and does not call for any interference by this Court. That the facts and circumstances of the case would disclose that the provisions are not applicable to the instant case. He placed reliance on the judgments in the case of CIT v. Siddaganga Oil Extractions (P.) Ltd. [1993] 201 ITR 968/67 Taxman 426 (Kar.), in the case of Cambay Electric Supply Industrial Co. Ltd., v. CIT [1978] 113 ITR 84 (SC) and the case of Liberty India v. CIT [2009] 317 ITR 218/183 Taxman 349 (SC) and pleads for dismissal of the appeal. 6. Heard Counsels. 7. The authorities came to the conclusion that the claim made by the assessee under Section 80-IA cannot be allowed. That the assessee has earned the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the assessee cannot be considered as a "profit or gain from any business of an industrial undertaking". It is not the business of the industrial undertaking to earn commission. Therefore, in the facts and circumstances of the case, we are of the considered view that the order of the Tribunal is justified. Further, we are of the considered view that in view of the facts and circumstances of the present case, the Tribunal was justified in holding that the assessee is not entitled for deduction under Section 80-IA of the Act. Consequently, both the questions of law are to be answered in favour of the revenue. 11. We do not see any error either on the application or interpretation on the facts of the case. All the lower authorities have he ..... X X X X Extracts X X X X X X X X Extracts X X X X
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