2018 (2) TMI 112

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..... als under Section 260A of the Income Tax Act, 1961 ("the Act" for short) challenges the common order dated 8 May 2014 passed by the Income Tax Appellate Tribunal ("Tribunal" for short). The common impugned order disposes of the Appeals, relating to assessment years 2006-07 to 2009-10. These three Appeals relate to assessment years 2007-08, 2008-09 and 2009-10. 2. The Revenue has urged the followi .....

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..... eligible business? 3. Whether on the facts and circumstances of the case and in law, the Tribunal erred in upholding the decision of CIT[A], Kolhapur in deleting the addition made by the Assessing Officer under Section 40(a)(ia) on account of nondeduction of TDS on the Wheeling Charges paid to MSEB of R. 2,49,179/? 3. Re. Question 2: (a) For the subject assessment years, the Respondent had c .....

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..... es and depreciation for the years prior to the initial assessment year which are absorbed against the profits of other business, cannot be notionally brought forward and set off against the profits of the eligible business for computing the deduction under Section 80IA of the Act. (c) Being aggrieved, the Revenue carried the above issue in Appeal to the Tribunal. The common impugned order of the .....

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..... ne 2017 in Hercules Hoists Ltd. (supra), dismissed the Revenue's Appeal by placing reliance upon the decision of the Madras High Court in Velayudhaswamy Spinning Mills (P) Limited (supra) and also recording the fact that the SLP filed from the order of the Madras High Court was dismissed on 5 September 2016. It has been held that only losses/depreciation beginning from the initial assessment y .....

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..... ove. 6. Registry is directed to communicate a copy of this order to the Tribunal. This would enable the Tribunal to keep papers and proceedings relating to the present Appeal available, to be produced when sought for by the Court. 7. Mr. Naniwadekar, the learned Counsel waives service. 8. To be heard along with Income Tax Appeal Nos. 300 of 2015 and 965 of 2011.
Case laws, Decisions, Judgem .....

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