2014 (10) TMI 742

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..... pment Limited [2007 (5) TMI 194 - SUPREME Court] - in determining business profits for the deduction under section 80HHC the unabsorbed business losses of earlier years under section 72 should be set off – thus, the order of the Tribunal is to be set aside - Decided in favour of revenue. - Tax Appeal No. 535 of 2003 - - - Dated:- 10-10-2014 - KS Jhaveri And K. J. Thaker,JJ. For the Appell .....

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..... firm is engaged in the business of manufacturing detergent powder at Mandali. During the year under consideration, the assessee claimed deduction u/s 80HH and 80-I. The Assessing Officer rejected the claim on the ground that the detergent powder was not manufactured under the assessee s factory but was manufactured by M/s. Patel Detergents on job work basis. On appeal the CIT (Appeals) rejected t .....

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..... hirke Construction Equipment Ltd. reported in (2007) 291 ITR 380 which squarely covers issue no. 1 on which the appeal was admitted. 5. Mr. Soparkar, learned advocate appears on behalf of the assessee. He is not in a position to dispute the above and is not in a position to show and/or point out any contrary decision. 6. Having heard Shri Bhatt, learned Counsel appearing on behalf of the Dep .....

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