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TMI Blog2014 (1) TMI 189X X X X Extracts X X X X X X X X Extracts X X X X ..... f bulk drugs and its intermediaries. For the years under consideration it claimed deduction under section 80IB of the Act on the ground that it is a Small Scale Industrial Unit (in short "SSI") and its investment in plant and machinery is less than Rs.3 crores. The Assessing Officer originally completed the assessments but subsequently, taken-up for scrutiny wherein he noticed that as per the notification of the Ministry of Commerce & Industry dated 24.12.1999 the investment in plant and machinery should not exceed Rs.1 crore in order to consider it as Small Scale Industrial Undertaking whereas, the total investment of the assessee in plant and machinery exceeded to Rs.1 crore. In response thereto, the assessee submitted that as per the cla ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the CIT(A), contending inter alia, that the assessee-company is engaged in bulk drug manufacture and the unit had commenced commercial production on 15 th May, 2001 but it has got the provisional and permanent registration with the Department of Industries as SSI Unit on 14 th May, 1995 and 19 th May, 2003 respectively. It was further submitted that as per the provisions of section 80IB(3) of the Act, a Small Scale Industrial Undertaking is entitled for deduction up to 30% of its profits for a period of 10 consecutive assessment years provided, it begins to manufacture or produce articles or things at any time during the period beginning on 1 st April, 1995 and ending on the 31 st day of March, 2002. Since the assessee's case falls within ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the products listed for manufacture are also different; as could be noticed from the provisional certificate and the permanent registration certificate, the name of the original company was M/s. Global Medichem Park Pvt. Ltd. which was set-up to produce Monochlora Acetic Acid MCA and Acetylchloride whereas, M/s. Neo Medicom produces Cetrizine DICHCL and Fluconazole. Because of this fundamental discrepancies, the learned CIT(A) concluded that the appellant/assessee has not been granted provisional registration before 1999 and consequently all the conditions mentioned in the notification of the Ministry of Commerce & Ministry dated 24.12.1999 were not fulfilled. Thus, the Orders passed by the Assessing Officer were confirmed. 7. Further ag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs.3 crores such SSI should also be considered as a SSI unit and consequently, the same would be entitled to the benefit of deduction under section 80IB of the Act. The learned Counsel for the assessee, strongly submitted that none of these facts were properly looked into either by the Assessing Officer or by the CIT(A). 8. On the other hand, the learned D.R. strongly relied upon the Orders passed by the tax authorities. 9. We have carefully considered the rival submissions and perused the record. It is not in dispute that in the provisional registration certificate as well as in the permanent registration certificate the factory location is the same. It is not the case of the Revenue that the assessee-company is a different company altog ..... X X X X Extracts X X X X X X X X Extracts X X X X
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