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TMI Blog2010 (12) TMI 1238X X X X Extracts X X X X X X X X Extracts X X X X ..... nding Counsel For the Assessee : Dr. Anita Sumanth ORDER PER GEORGE MATHAN, JUDICIAL MEMBER : ITA No. 833/Mds/2008 is an appeal filed by the Revenue and ITA No. 352/Mds/2008 is an appeal filed by the assessee against the order of the learned CIT(Appeals)-V, Chennai in appeal No. ITA No. 485/06-07 dated 26-11-2007 for the assessment year 2004-05. 3. Dr. Anita Sumanth, Advocate represented ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the setting off of the losses of the Delhi unit against the profits of the Chennai unit prior to the computation u/s. 10A as also against the action of the learned CIT(A) in directing the Assessing Officer to allow deduction u/s. 10A in respect of the profits derived by the undertaking from items of income like interest. It was the submission that these issues were also considered by the Special ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... decision of the Special Bench in the case of the assessee in ITA No. 352/Mds/2008 dated 5-2-2010, grounds 2.1 and 2.2 of the Revenue's appeal stand dismissed. 6. In regard to grounds 3.1, 3.2 & 3.3 which are against the action of the learned CIT(A) in directing the Assessing Officer to allow deduction u/s. 10A in respect of the profits derived by the undertaking on items of income like interest, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot entitled to get the benefit of section 10A in relation to the interest." In the circumstances, respectfully following the decision of the Hon'ble jurisdictional High Court, referred to supra, the finding of the learned CIT(A) in regard to these grounds stands reversed. In the circumstances, the Revenue's appeal is partly allowed. 7. In the result, the appeal of the assessee is allowed an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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