2012 (1) TMI 299

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....M This appeal by the assessee is directed against the order dated 15.12.2010 of the CIT(A) for the AY 2004-05. 2 The assessee has raised various grounds in this appeal; however, the only issue arises for our consideration and adjudication is whether in the facts and circumstances of the case 'principle of mutuality' is applied in respect of the receipt for treatment of industrial effluent. ....

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....aised by the assessee shows that an enterprise which is not owned by a company as defined in the IT Act or consortium of such companies are entitled to the benefits u/s 80IA, even if all other conditions laid down in that section is satisfied The assessee has failed the test of qualification for deduction u/s 80IA o f the IT Act. The main point in question is whether the assessee is entitled for d....

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.... the assessee only u/s 80IA and the issue of concept of principle of mutuality has not been adjudicated. Similarly, the CIT(A) has decided the appeal of the assessee in paragraph 7.4 as under : "7.4 in view of the above facts and legal position, I am not in a position to interfere with the order of the Assessing Officer . The disallowance of the claim of deduction u/s 80IA(4) at Rs. 47,69,410/-....