TMI Blog2022 (5) TMI 1012X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessee of deduction u/s 80IA(4) will not have any tax implication for this relevant year HELD THAT:- Admission/comment of the assessee should not have any bearing regarding the issue of eligibility of the assessee of claiming deduction u/s 80IA(4) in respect of the said power captive unit in relation to subsequent years, wherein the assessee may be affected by some tax implications. In view of above submissions, for the assessment year under consideration without adjudicating upon the issue of the eligibility of the assessee for claiming deduction u/s 80IA(4) on the power captive unit, the appeal is disposed off with the direction to the Assessing Officer to compute the eligible profits of the assessee by taking the entire unit as si ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d for deduction u/s 80IA , ought to have decided alternate claim of the appellant that if Captive Power Plant is not a separate undertaking, income and deduction allowable to appellant is to be recomputed as Ld. AO ,in its original order dated 27.12.2007 assessed income of Captive Power Plant on protective basis and treated demand raised Rs 12,31,448/- as protective demand. The Ld. CIT (A) erred in not deciding the alternate ground. 3. Appellant pray that deduction U/s.80-IA as claimed be granted or alternatively deduction allowable U/s.10B be suitable enhanced. 4 Assessee crave your honours leave to add, amend, or modify any grounds of appeals at the time of hearing or before. 2. At the outset, the ld. Counsel for the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ration, the Assessing Officer may be directed to re-compute the eligible profits from power captive unit as part of the manufacturing unit of the assessee, which otherwise is eligible for exemption u/s 10B of the Act. However, the above admission/comment of the assessee should not have any bearing regarding the issue of eligibility of the assessee of claiming deduction u/s 80IA(4) in respect of the said power captive unit in relation to subsequent years, wherein the assessee may be affected by some tax implications. In view of above submissions, for the assessment year under consideration without adjudicating upon the issue of the eligibility of the assessee for claiming deduction u/s 80IA(4) on the power captive unit, the appeal is dispose ..... X X X X Extracts X X X X X X X X Extracts X X X X
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