2013 (11) TMI 1675

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..... Mr. T.N.Betgeri, JCIT Respondent by : Mr. A.S. Sriraman, Advocate ORDER Per Challa Nagendra Prasad, JM : These two appeals are filed by the Revenue against the orders of Commissioner of Income Tax (Appeals)-I, Coimbatore. Since the issue involved in these two appeals is common, they are heard together and disposed off by this common order. 2. There is a delay of nine days in filing of both .....

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..... earlier years. As per section 80IA(5), profits and gains has to be worked out taking into consideration the brought forward losses of earlier years in determining the quantum of deduction admissible even though they may have been set off against the profits. In the light of the above, the assessee does not have eligible profits to claim deduction u/s.80IA. The decision of Madras High Court in .....

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..... used the orders of the lower authorities and the case law relied on by the counsel for the assessee. The Commissioner of Income Tax (Appeals) considering the submissions of the assessee disposed of the appeals observing as under:- "4. The main issue in the grounds of appeal is regarding disallowance made u/s.80IA of the Income Tax Act. The AR submitted that the claim u/s.80IA was made on the bas .....

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