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TMI Blog2021 (12) TMI 19X X X X Extracts X X X X X X X X Extracts X X X X ..... rs Section 80I of the Act it provides for deduction in respect of profits and gains from Industrial undertaking after a certain date etc. It applies to industrial undertaking or a ship or the business of a hotel or business of repairs to ocean going vessels or other powered craft. Section 80IA of the Act provides for deductions in respect of profits and gains from industrial undertaking or enterpr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ex Court was in the nature of obiter. It is settled law that even if the observation of the Apex Court is in the nature of obiter, the same will be binding on the High Courts. In view of what is said in Reliance Energy Limited (supra) by the Apex Court we will have to answer the question noted above in negative. - INCOME TAX APPEAL NO.844 OF 2002 - - - Dated:- 18-11-2021 - K. R. SHRIRAM A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ltd. (2021) 127 taxmann.com 69 (SC) Mr. Jasani submitted that though in Reliance Energy (supra) Section 80-IA of the Income Tax Act, 1961 (the Act) was discussed, it would still squarely apply to the case at hand to Sections under consideration, i.e., 80I and 80HH of the Act. 3. Mr. Pinto per contra, strongly opposed the appeal and submitted that the ITAT had correctly concluded that the loss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... respect of profits and gains from industrial undertaking or enterprises engaged in infrastructure development etc. Section 80HH of the Act provides for deduction in respect of profits and gains from a newly established industrial undertaking or a hotel business in backward area. If we consider the language applied in these three sections, they are identical except that the industry to which it be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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