2015 (1) TMI 245

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....medabad [for short "the Tribunal"] in ITA No.630/Ahd/93, whereby the the appeal filed by the assessee was partly allowed. 3. Tax Appeal No.33 of 2001 & Tax Appeal No.34 of 2001 are filed against the common order dated 30.08.2000 passed by the Tribunal in ITA No.4275/Ahd/1990 and ITA No.5500/Ahd/91, whereby the appeals filed by the assessee were partly allowed. 4. The facts of the case are that the respondent-assessee had filed its return for the Assessment Year 1986-87 on 29.08.1986, showing total income of Rs. 4,89,02,101/-, for the Assessment Year 1987-88 on 30.06.1987, showing total income of Rs. 3,47,60,150/- and for the assessment year 1988-89 on 29.6.1988, showing total income of Rs. 29,22,920/- The assessing Officer, after scrutiny....

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....mitted that the impugned order does not warrant any interference by this Court in view of the concurrent findings of both the authorities namely the CIT(A) as well as the Tribunal. Therefore, he urged that the present appeals deserve to be dismissed. 8. We have heard learned counsel appearing for both the parties and considered the rival submissions made by both the counsel. While deciding the appeals, the Tribunal in paragraph No.15.3. and 51.4 has observed as under:             15.3. We have considered the rival submissions and have also gone through the orders passed by the Assessing Officer and CIT(A) in the case of the assessee for A.Ys. Under consideration as well as the order o....

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....sting units. After the appellant took over this unit, it recruited its own staff and obtained various registration certificates i.e. for Central Excise, Small scale industries, P.F. Etc. It started its own business with the help of its own finance as well as substantial finance borrowed from different concerns. It has its own marketing infrastructure and its area of operation was also separate and distinct. Therefore, it can not be said that this new unit was formed by splitting up or reconstruction of a business already in existence. The fact that the industrial undertaking manufactured articles in premises highered from M/s Nirma Chemical Works Pvt. Ltd. does not militate against the claim for deduction us. 80L in as much as, there is no ....