2017 (9) TMI 167

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..... November, 2004 passed by the Income Tax Appellate Tribunal ('ITAT') in ITA No.3807/Del/1999 for the Assessment Year ('AY') 1995-96. 2. While admitting this Appeal on 24th March, 2006, the following question of law was framed for consideration: "Whether, on the facts and circumstances of the case, the Tribunal was right in its conclusion that the total turnover in Section 80 HHC of the Income-ta .....

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..... Section 143(3) of the Act held that the Assessee was entitled to brought forward losses/depreciation amounting to Rs. 1,76,90,248/- only. After adjustment of the said sum, the Assessee was held entitled to deduction under Section 80HHC in the sum of Rs. 8,25,694/- only. 4. The Assessee's appeal was allowed by the Commissioner of Income Tax (Appeals) [CIT (A)] by order dated 25th June, 1999. I .....

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..... ceed the gross total income of the Assessee from all business put together. The order of the CIT(A) was set aside on this point and the AO was directed to work out the deduction under Section 80 HHC on the basis indicated in the order. 6. Learned counsel for the Revenue has drawn the attention of this Court to the judgment of the Supreme Court in IPCA Laboratories vs. Dy. Commissioner of Income T .....

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