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M/s Sanra Software Ltd. Versus The Dy. CIT, Chennai

2016 (2) TMI 574 - MADRAS HIGH COURT

Deduction under Section 80-IA - Whether the Tribunal was right in holding that the provisions of Section 80-AB over-ride Section 80-IA read with Section 115-JA and so the appellant is not entitled to the deduction? - Held that:- Assessee admittedly maintained a consolidated set of books of accounts in respect of both the units. If an Assessee does not maintain two sets of books of accounts in respect of different units, then the question of eligibility would arise only if there was a positive in .....

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ase Appeal No. 1291 of 2007 - Dated:- 2-2-2016 - V. Ramasubramanian And N. Kirubakaran, JJ. For the Appellant : Mr. V S Jayakumar For the Respondent : Mr. J Narayanasamy, Standing Counsel JUDGMENT V. Ramasubramanian, J. The above Tax Case Appeal filed by the Assessee under Section 260-A of the Income Tax Act, 1961, was admitted on 29.10.2007 on the following substantial questions of law: i. Whether the Tribunal was right in holding that the deduction under Section 80-IA is not allowable at all t .....

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r the Tribunal was right in holding that the appellant is not eligible for deduction under Section 80-IA since the computer software manufacture concern cannot be considered as one of the items covered in that Section? 2. We have heard Mr.V.S.Jayakumar, learned counsel for the appellant and Mr.J.Narayanasamy, learned Standing Counsel for the Revenue. 3. The Appellant/Assessee has two units, one in chennai and another in Pondicherry. Admittedly, the Assessee did not maintain separate books of acc .....

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115JA of the Act and eventually arrived at the taxable income as ₹ 1,90,960/-. 6. The Assessee filed an appeal on the ground that the Assessing Officer ought not to have upheld the claim for deduction for deferred revenue expenditure in computing the income from business. The Assessee claimed that a deduction under Section 80-IA of the Act, in respect of the income from Pondicherry unit should not have been denied. 7. By an order dated 27.11.2003, the Commissioner of Income Tax (Appeals) p .....

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