TaxTMI 
TaxTMI 
2007 (2) TMI 116
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....ection 80-IA @30% of its profit. The Assessing Officer declined the Assessee's claim holding that the items manufactured by the Assessee comes under Eleventh Schedule at Sl.No.27 and 28, and these items are of packaging and fittings. The contention of the Assessee that the Department has allowed deduction in respect of the same very product in assessment year 1998-1999 was declined on the plea that every assessment year is a separate assessment year, therefore, the contention of Assessee was not found acceptable. 3. The Commissioner of Income Tax(A) confirmed the order of Assessing Officer by observing that the Assessee is a small scale industrial undertaking which has started manufacturing on 2^nd January, 1992 which is much before than....
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.... been filed by the Revenue on the grounds that the Assessee is not entitled to benefit under Section 80-IA of the Act since the Assessee is engaged in the production of articles/goods mentioned in the negative list/Eleventh Schedule of serial No.27 and 28 and the benefit of deduction is allowed to small scale units only when they begin to manufacture goods during the period for which the benefit is available and as the Assessee started manufacturing the said goods only from 2^nd January, 1992, i.e., before benefit was allowable to such small scale units, hence the case of Assessee does not fall within the proviso to the exclusion clause contained to Section 80-IA of the Act and plea of consistency is not applicable, as each year is distinct....
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.... date of start of its production, which was 2.1.92. The year under consideration is AY 2001-02, which is very well within the period of 10 years from the first year from which the Assessee is entitled for deduction u/s 80-IA. We are, therefore, inclined to reverse the finding and conclusion of the lower authorities for allowing deduction to the Assessee u/s 80-IA, notwithstanding the fact that product manufactured by the Assessee was coming under Eleventh Schedule. 9. By virtue of the Finance Act, 1992, amendment has been made in Section 80-IA of the Act and these amendments have taken effect from 1^st April, 1993 and accordingly, shall apply in relation to assessment year 1993-94 and subsequent years. Thus Section 80-IA is not applicabl....
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.... any article or thing, not being any article or thing specified in the list in the Eleventh Schedule, or operates one or more cold storage plant or plants, in any part of India, and begins to manufacture or produce articles or things or to operate such plant or plants, at any time within the period of (fourteen years) next following the 31st day of March, 1981, or such further period as the Central Government may, by notification in the Official Gazette, specify with reference to any particular industrial undertaking; (iv) in a case where the industrial undertaking manufactures or produces articles or things, the undertaking employs ten or more workers in a manufacturing process carried on with the aid of power, or employs twenty or more....