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2015 (9) TMI 1460 - MADRAS HIGH COURT

2015 (9) TMI 1460 - MADRAS HIGH COURT - [2016] 385 ITR 324 - Deduction under section 80-IA - Held that:- Assessee is entitled to deduction under section 80-IA without setting off the losses/unabsorbed depreciation pertaining to the windmill. See Velayudhaswamy Spinning Mills P. Ltd. v. Asst. CIT [2010 (3) TMI 860 - Madras High Court ] - T. C. A. Nos. 741, 742 and 743 of 2015 and M. P. Nos. 1 and 1 of 2015 - Dated:- 29-9-2015 - V. Ramasubramanian And T. Mathivanan, JJ. For the Appellant : T. R. S .....

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the order of the Tribunal in I. T. A. No. 2176/Mds/2008 without considering the reported decision in [2011] 334 ITR 194 (Mad) ; [2011] 16 taxmann.com 34 of the very same assessee ? and (iii) Whether under the facts and circumstances of the case, the Income-tax Appellate Tribunal is right in law in holding that the assessee is entitled to deduction under section 80-IA without setting off the losses unabsorbed depreciation pertaining to the windmill, which were set off in the earlier year against .....

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s. 1 and 2 are concerned, the same relates to a finding recorded by the Tribunal as though the issue on hand was covered by the decision of the Tribunal in I. T. A. No. 2176/Mds/2008. But, the decision of the Tribunal in I. T. A. No. 2176/Mds/2008 related to the method of accounting. The appeal filed by the Department was already disposed of in favour of the same assessee in [2011] 334 ITR 194 (Mad) ; [2011] 16 taxmann.com 34 (CIT v. SAS Hotels and Enterprises Ltd.). The case on hand has nothing .....

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