2018 (11) TMI 1253

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....S) AND SRI. JOSE JOSEPH, SC FOR INCOME TAX For The Respondent : ADVS. SMT. PREETHA S. NAIR SRI. E. K. NANDAKUMAR (SR. ) SRI. K. JOHN MATHAI SRI. P. BENNY THOMAS AND SRI. RAJA KANNAN JUDGMENT K. Vinod Chandran, J. The assessment years we are concerned with in the appeals are 1997-1998 and 1998-1999. The claim is under Section 80IA of the Income Tax Act, 1961 [for brevity, the Act] as it....

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....(2) of Section 80IA of the Act, a deduction under sub-section (1) from profits and gains derived from an industrial undertaking shall not be admissible, unless the accounts of the industrial undertaking for the previous year relevant to the assessment year have been audited by an Accountant as defined under Explanation to Section 80IA(2) of the Act, as it existed prior to 2000. The assessee also h....

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....contend that the said order of the Tribunal, which was confirmed by this Court, was with respect to the processing carried out by an assessee in a unit, which did not belong to the assessee, but was leased out by the assessee. There was no identity of facts or law in the instant case, with the relied on decision, is the contention taken. We agree with the said submission of the learned Senior Coun....