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2012 (1) TMI 299 - ITAT MUMBAI

2012 (1) TMI 299 - ITAT MUMBAI - TMI - ITA No. 2162/Mum/2011 - Dated:- 11-1-2012 - SHRI R S SYAL, & SHRI VIJAY PAL RAO, JM Assessee by Sh. Raja B Singh Revenue by Sh. B Jaya Kumar ORDER PPEERR PER VIJAY PAL RAO JM This appeal by the assessee is directed against the order dated 15.12.2010 of the CIT(A) for the AY 2004-05. 2 The assessee has raised various grounds in this appeal; however, the only issue arises for our consideration and adjudication is whether in the facts and circumstances of .....

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elevant record. The Assessing Officer has recorded the reasons for not allowing the claim of the assessee u/s 80IA(4)(i)(a) as under : The assessee has also sought to explain the concept of mutuality in its letter dated 25.1.2007. the assessee has also relied upon the various cases laws, though none of them appeared to be relevant in deciding the point in question. None of the arguments raised by the assessee shows that an enterprise which is not owned by a company as defined in the IT Act or co .....

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ing Officer has decided the issue of deduction u/s 80IA vide paragraphs 6 as under : 6. From the plethora of judicial verdicts, it is amply clear that when the status has restricted the relief u/s 80IA to enterprises owned by company or consortium of companies, by no amount of reasoning and interpretation, the deduction can be claimed by anybody else, other than those clearly and expressly qualified by the statute. In this view of the matter the deduction, claimed by the assessee, u/s 80IA is re .....

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