2015 (12) TMI 1757

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..... epartment Shri Soumen Adak, FCA & Shri Harish Agarwal, ACA, for the assessee O R D E R Per Shri P.M. Jagtap:- This appeal is preferred by the Revenue against the order of ld. Commissioner of Income Tax (Appeals)-VIII, Kolkata dated 12.01.2012 for the assessment year 2006-07 and in the solitary ground raised therein, the Revenue has challenged the action of the ld. CIT(Appeals) in deleting .....

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..... iation on vehicles, etc. to the Sikkim Unit while calculating the profit of the said Unit eligible for deduction under section 80IC. He, therefore, worked out such expenses allocable to the Sikkim Unit at Rs. 44,16,463/- and restricted the claim of the assesese for deduction under section 80IC of Rs. 12,40,37,788/- to Rs. 11,96,21,325/-. 3. On appeal, the ld. CIT(Appeals) did not agree with the A .....

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..... ins derived by the eligible Undertaking. As submitted by the ld. Counsel for the assesese in this regard, the words "derived from" has a narrow meaning, inasmuch as it contemplates first degree connection with the eligible Unit as held, inter alia, by the Hon'ble Supreme Court in the case of Pandian Chemicals Limited reported in 262 ITR 278 and this principle laid down by the Hon'ble Supreme Court .....

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