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TMI Blog2015 (5) TMI 825X X X X Extracts X X X X X X X X Extracts X X X X ..... aimed under section 80-IA for the assessment years in question, then, there was no occasion for the Tribunal and equally us to have gone into these questions. In any event, merely because the Tribunal has gone into and considered them, we are not obliged to go into the same given the above admitted factual background. Therefore, by clarifying that as and when this question arises and in relation to the same assessee in future, if the deduction is claimed under section 80- IA for eligible unit, then, it would be open for the Revenue to project all questions and propose them as substantial questions of law. In that event, they can raise all contentions and equally pertaining to the setting off of the said losses and in relation to the eligibl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e provision of section 80-IA(5)?" 3. In relation to that Mr. Tejveer Singh submitted that the Tribunal's conclusions would have a far reaching impact and effect. He relied upon the Tribunal's conclusions whereunder ground No.1 of the assessee's appeal was referred and the preceding paragraphs prior to such conclusion dealt with that ground. That ground was in respect of determination of business income for the relevant years without allowing the assessee set off of depreciation / loss of its two units viz. Windmill 1 and 2, income from which was otherwise eligible for deduction under section 80-IA. 4. Though Mr. Tejveer Singh would submit that the above framed question is a substantial question of law, we invited his atte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ribunal at Ahmedabad in the case of Goldmine Shares and Finance Pvt. Ltd. However, the Commissioner (Appeals) in the appeal by the assessee partly granted relief. That partial relief and the Tribunal's order, according to Mr. Tejveer Singh, would raise substantial questions of law. 5. We find that the ground No.1 in the assessee's appeal before the Tribunal and referred in detail by us herein above and which has been dealt with by the Tribunal from paragraphs 3.2.2 onwards and eventually the conclusions recorded by the Tribunal would denote that the above question of law and reproduced by us does not arise from the same. We have not found anything in the Tribunal's order and dealing with the grievance of the assessee being made ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r develops an industrial part or develops a special economic zone referred to in clause (iii) of sub-section (4) or generates power or commences transmission or distribution of power or undertakes substantial renovation and modernisation of the existing transmission or distribution lines.… ……… (5) Notwithstanding anything contained in any other provision of this Act, the profits and gains of an eligible business to which the provisions of sub-section (1) apply shall, for the purposes of determining the quantum of deduction under that sub-section for the assessment year or any subsequent assessment year, be computed as if such eligible business were the only source of income of the assessee during the previous ye ..... X X X X Extracts X X X X X X X X Extracts X X X X
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