2014 (10) TMI 873

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.... the Respondent : Mr. K.B.Muralidharan, C.A ORDER PER CHALLA NAGENDRA PRASAD , JM: This appeal is filed by the Revenue against the order of the Commissioner of Income Tax (Appeals)- I, Chennai dated 21.11.2013 for the assessment year 2008-09 arising out of the assessment order passed under section 143(3) of the Act. The only issue in the appeal of the Revenue is that Commissioner of Incom....

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....ciation for the purpose of allowing deduction under section 10B of the Act, assessee preferred appeal before the Commissioner of Income Tax (Appeals) and the Commissioner following the order of the co-ordinate Bench of this Tribunal in the case of Chettinad Morimura Semi-conductor Materials Pvt. Ltd. with which assessee company merged with for the assessment year 2007-08 allowed the appeal of the ....

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.... Departmental Representative relies on the order of Hon'ble Supreme Court as well as the co-ordinate Bench decision. 4. Counsel for the assessee submits that the decision of Hon'ble Supreme Court in the case of M/s. Himatsingka Seide Ltd. (supra) is not applicable to the assessee's case. Counsel tries to distinguish the above decision of the Supreme Court saying that decision pertaining to asse....

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....s.10A before setting off of unabsorbed depreciation and brought forward losses. The ld.AR of the assessee in order to fortify the stand of assessee has placed reliance on the decision of the Tribunal in assessee's appeal for the AY.2005-06 and AY.2007-08 (supra). The ld.AR has also drawn support from the judgment of the Hon'ble Karnataka High Court in the case of CIT Vs. Yokogawa India Ltd.(supra)....