TMI Blog2021 (12) TMI 728X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal granted relief to the assessee and the revenue carried the matter on appeal to this Court [ 2019 (9) TMI 1621 - CALCUTTA HIGH COURT] which was dismissed by judgement on the ground that no question of law arises for consideration. Thus, the decision rendered by the Tribunal does not call for any interference. Claim for deduction under Section 80IB on the sale of scrap - This issue is no longer res integra and there are several decisions which are in favour of the assessee and the Tribunal had followed the decision of this Court in the case of Reckitt Benckiser (India) Ltd. [ 2015 (2) TMI 506 - CALCUTTA HIGH COURT ] and granted relief to the assessee. We find that the revenue has not made out any ground to interfere with t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal has erred in law in upholding the order of CIT(Appeal) in allowing deduction under Section 80IB of Income Tax Act, 1961 in respect of common expenses of ₹ 10,21,06,200/- in respect of its Units at Pandicharry, Goa and Jammu by dis-regarding that it was not correctly apportioned ? ii) Whether on the facts and in the circumstances of the case the Learned Tribunal has erred in law in upholding the order of CIT (Appeal) in allowing deduction under Section 80IB of Income Tax Act, 1961 in respect of interest income of ₹ 57,93,000/- on sale of scrap by treating it as income derived from profits and gains of industrial undertaking? iii) Whether on the facts and in the circumstances of the case the Learned Tribunal has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Tribunal does not call for any interference. The second substantial question of law concerns the claim for deduction under Section 80IB on the sale of scrap. This issue is no longer res integra and there are several decisions which are in favour of the assessee and the Tribunal had followed the decision of this Court in the case of Reckitt Benckiser (India) Ltd. vs- Additional Commissioner of Income Tax, Range 12, Kolkata, reported in [2015] 56 taxmann.com 415 (Calcutta) and granted relief to the assessee. We find that the revenue has not made out any ground to interfere with the said finding rendered by the Tribunal which is taken note of the correct legal position. With regard to the third substantial question of law, the Tr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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