https://www.taxtmi.com/caselaws?id=773012 ITAT Chennai allowed deduction u/s 80IA for windmill undertakings acquired as going concern, ruling that the condition in section 80IA(3)(ii) requiring entirely new machinery must be evaluated at the time of original setup by previous owners, not at acquisition. The tribunal relied on Premier Cotton Mills Ltd precedent and found all four windmill undertakings eligible for deduction across multiple assessment years. Additionally, ITAT upheld CIT(A)'s decision rejecting application of sections 69A/69B read with 115BBE for alleged excess bird stock, finding the revenue's evidence insufficient to establish unaccounted purchases, thus treating the disclosed income as regular business income rather than income from other sources. en-us Thu, 05 Jun 2025 00:00:00 +0530 Mon, 16 Jun 2025 18:27:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773012 ITAT Chennai allowed deduction u/s 80IA for windmill undertakings acquired as going concern, ruling that the condition in section 80IA(3)(ii) requiring entirely new machinery must be evaluated at the time of original setup by previous owners, not at acquisition. The tribunal relied on Premier Cotton Mills Ltd precedent and found all four windmill undertakings eligible for deduction across multiple assessment years. Additionally, ITAT upheld CIT(A)'s decision rejecting application of sections 69A/69B read with 115BBE for alleged excess bird stock, finding the revenue's evidence insufficient to establish unaccounted purchases, thus treating the disclosed income as regular business income rather than income from other sources. Case-Laws Income Tax Thu, 05 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773012