2019 (1) TMI 408

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....Respondent : ADVS. SMT. PREETHA S. NAIR SRI. K. JOHN MATHAI SRI. M. GOPIKRISHNAN NAMBIAR SRI. P. BENNY THOMAS AND SRI. P. GOPINATH JUDGMENT Vinod Chandran, J. The appeal raises the following questions of law:- (1) Whether, on the facts and in the circumstances of the case and admittedly the Salem Unit being the eligible unit under Sec.80IB and the sales recorded in the separate books of Sale....

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....ed by sub-Section (3) of Section 80IB. The particular issue in the case is as to the disallowance having been interfered with by the Income Tax Appellate Tribunal. In the subject assessment year 2004-05, the profit and loss account of the Salem Unit showed the eligible deduction under Section 80IB at Rs. 21,85,24,989/-. The consolidated profit and loss account of the units at Salem and Hyderabad s....

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....80IB also. Sub-section (8) of Section 80IA indicates that where any goods or services held for the purpose of eligible business are transferred to any other business or where any goods held for the purposes of any other business carried on by the assessee are transferred to the eligible business, the consideration, if any, for such goods and services shall be computed, so as to correspond to the m....