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M/s Taloja Cetp Co-op Society Ltd. Versus The Income Tax Officer Ward 2, Panvel

2012 (1) TMI 299 - ITAT MUMBAI

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 15.12.2 .....

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ied in respect of the receipt for treatment of industrial effluent. 3 We have heard the ld AR of the assessee as well as the ld DR and considered the relevant material on record. At the outset, we find that an identical issue arose for the AY 2005-06 .....

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as 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, .....

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to the benefits u/s 80IA, even if all other conditions laid down in that section is satisfied The assessee has failed the test of qualification for deduction u/s 80IA o f the IT Act. The main point in question is whether the assessee is entitled for .....

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duction 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 a .....

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sessing Officer has decided the claim of the assessee only u/s 80IA and the issue of concept of principle of mutuality has not been adjudicated. Similarly, the CIT(A) has decided the appeal of the assessee in paragraph 7.4 as under : 7.4 in view of t .....

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