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TMI Blog2008 (11) TMI 347X X X X Extracts X X X X X X X X Extracts X X X X ..... ainst the profit of the assessment year 1993-94 for the purposes of deduction under section 80-I of the Act. The appeal is dismissed. – Decision in favor of revenue – against the assessee. - 117 of 2002 - - - Dated:- 7-11-2008 - CHANDRAMAULI KUMAR PRASAD and DR. RAVI RANJAN JJ. Ajay Kumar Rastogi and Shailendra Kumar for the appellant. Harshwardhan Prasad with Ms. Archana Sinha for the respondent. JUDGMENT 1. Daya Engineering Works Limited is engaged in manufacturing railway sleepers. It has units at Gaya in the State of Bihar and another at Mirza in the State of Assam. The Mirza unit commenced its production in the year 1992-93 and had a loss of Rs.21,42,843. However, M/s. Daya Engineering Works Limited, hereinafter re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ngly hold that the deduction under section 80-I in respect of Mirza unit is admissible to the appellant under the provisions of section 80-1 of the Income-tax Act, 1961. The Deputy Commissioner of Income-tax is directed to allow the same claimed at Rs.4,77,845" 3. The Revenue carried the matter in appeal before the Patna Bench of Income-tax Appellate Tribunal, hereinafter referred to as "the Tribunal". The Tribunal reversed the order of the Commissioner of Income-tax (Appeals) and restored the order of the Assessing officer. In its opinion, the, Commissioner of Income-tax (Appeals) erred in holding that the loss at Mirza unit pertaining to the assessment year 1992-93, which has been off in that year, against the income of the assessee f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ded forward for the purposes of deduction under section 80-I of the Act against the profit of the assessee in the assessment year 1993-94. 7. Mrs. Archana Sinha, appearing on behalf of the Revenue, however, submits that the loss of the Mirza unit of the previous year, has to be carried forward notionally for determining the deduction under section 80-I of the Act. 8. Rival submission necessitate examination of section 80-I(6) of the Act. Same reads as follows: "80-I.. Deduction in respect of the profits and gains from industrial undertakings after a certain date, etc.—(1)…. (6) Notwithstanding anything contained in any other provision of this Act, the profits and gains of an industrial undertaking or a ship or the business of a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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