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Taloja CETP Coop Society ltd. Versus The Deputy Commissioner of Income Tax Thane

2011 (3) TMI 1702 - ITAT MUMBAI

ITA No. 801/Mum/2009 - Dated:- 25-3-2011 - SHRI S V MEHROTRA, ACCOUNTANT MEMBER AND SHRI VIJAY PAL RAO, JUDICIAL MEMBER Appellant by : Shri Raja B Singh Respondent by : Shri D Songate O R D E R PER VIJAY PAL RAO,JM This appeal by the assessee is dire .....

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red that the society is not entitled to relief under section 80IA(4)(I) whereas we had argued for the relief of tax on the basis of principle of mutuality 3. Facts of the case are that the assessee is a cooperative society formed by the industrial un .....

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; 47,69,412/-. The assessee claimed entire income as deduction u/s 80IA of the Act. The AO disallowed the claim of the assessee and assessed the surplus of ₹ 47,69,413/- as income of the assessee. 4. On appeal, the CIT(A) has confirmed the disa .....

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e assessment order as well as the order of the CIT(A) and submitted that both the AO and the CIT(A) has not adjudicated the issue of principle of mutuality . He has also referred the letter dated 9.7.2008 and submitted that the assessee has ITA No. 8 .....

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tuality directed to be decided. 6. On the other hand, the learned DR has relied upon the orders of the lower authorities. 7. We have considered the rival contentions and relevant record. The AO has recorded the reasons for not allowing the claim of t .....

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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 consortium of such companies are entitled to the benefits u/s 80IA, even if all other conditions .....

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or consortium of companies, the other explanations of the assessee contained in the letter referred to above, are not considered at this stage 8. The AO has decided the issue of deduction u/s 80IA vide paragraphs 6 as under : 6. From the plethora of .....

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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 rejected 9. Thus, it is clear that the AO has decided the claim of the assessee only u/s 80IA and the issue of .....

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