TMI Blog2019 (6) TMI 1555X X X X Extracts X X X X X X X X Extracts X X X X ..... e point of time, namely, after the expiry of period of tax holiday. The absence of any reference to deduction under Section 10A in Chapter VI of the Act can be understand by acknowledging that any such reference or mention would have been a repetition of what has already been provided in Section 10A. The provisions of Sections 80HHC and 80HHE of the Act providing for somewhat similar deductions would be wholly irrelevant and redundant if deductions under Section 10A were to be made at the stage of operation of Chapter VI of the Act. The retention of the said provisions of the Act i.e. Section 80HHC and 80HHE, despite the amendment of Section 10A, in our view, indicates that some additional benefits to eligible Section 10A units, not cont ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... losses pertaining to the AY 2000-01 and re-computed the income. 3. Aggrieved against those orders, the Revenue filed these appeals before the Commissioner of Income Tax (Appeals) and the Ld.CIT(A) applying the decision of the Hon ble Supreme Court in the case of CIT Vs. M/s.Yokogawa India Ltd., reported in [2017] 77 taxmann.com 41 (SC), allowed the assessee s appeal. 4. Aggrieved against those orders, the Revenue filed these appeals with the following grounds for both the AYs: 1. The order of the Ld. CIT(A) is contrary to law, facts and circumstances of the case. 2. The Ld. CIT(A) erred in not applying the rationale of the Apex Court decision in M/s.Himatsingike Seida case [2014] 48 taxmann.com 357 (SC) , where it was held that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 10A which provides for pro rata exemption, necessarily involving deduction of the profits arising out of domestic sales, is one instance of deduction provided by the amendment. Profits of an eligible unit pertaining to domestic sales would have to enter into the computation under the head profits and gains from business in Chapter IV and denied the benefit of deduction. The provisions of Sub-section 6 of Section 10A, as amended by the Finance Act of 2003, granting the benefit of adjustment of losses and unabsorbed depreciation etc. commencing from the year 2001-02 on completion of the period of tax holiday also virtually works as a deduction which has to be worked out at a future point of time, namely, after the expiry of period of tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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