2010 (1) TMI 261

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t was delivered by 1. Prakash Shrivastava J.- This order will also govern disposal of I.T.A. No. 97 of 2009 and I. T. A. No. 98 of 2009. 2. These two appeals have been filed against the common order dated June 19, 2009 passed by the Income-tax Appellate Tribunal, Indore Bench, Indore in I. T. A. No. 784/Ind/2007 assessment years 2003-04 and 2004-05. I. T. A. No. 97 of 2009 relates to the ass....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....adequacy of profit. Since the unit 2 was set up in the financial year 1997-98 and it was situated in backward area, therefore, claim under section 80-IA(2) was admissible. 4. The Assessing Officer denied the benefit of section 80-IA to the respondent and the Commissioner of Income-tax (Appeals) while deciding the appeal against the order of assessment, took the view that the audit report as pre....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....not submitted before the Assessing Officer. 7. We have heard the learned counsel appearing for the appellant and perused the record. 8. The Income-tax Appellate Tribunal on appreciation of the material available on record, has recorded that commercial production in the unit 2 had started in the year 1997-98 and the machines of the unit are independent to produce the saleable products. The cl....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ibed under the law, therefore, simply for the reason that he had not made the claim for the earlier years, he cannot be denied to claim the same for the subsequent years. It has also been found that the respondent prepared detailed proportionality and the accounts were audited. The respondent has produced sufficient material before the Assessing Officer to establish that the unit 2 had its separat....