2019 (1) TMI 1142

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....ND AND S. SRIDHAR For The Respondent : JOSE JOSEPH, SC JUDGMENT Vinod Chandran, J A common question arise in both the appeals for the years 2002-03 and 2003-04 and a separate question also arise in each of the said years. The common issue is with respect to the claim under Section 80 IA of the Act. The assssee admittedly established a wind mill in an earlier year and started claiming d....

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....er has been examined by the Board. It is abundantly clear from sub-section (2) that an assessee who is eligible to claim deduction under Section 80 IA has the option to choose the initial/first year from which it may desire the claim of deduction for ten consecutive years, out of a slab of fifteen (or twenty) years,as prescribed under that sub-section. It is hereby clarified that once such initial....

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....nt year from which the claim of deduction is commenced and the assessee is entitled to the notional carry forward from that particular year. The order of the Tribunal is reversed to that extent. 4. One other question arising in the year 2002-03 is as to the claim under Section 41(1) of the Income Tax Act. The assessee had in an earlier year paid up an amount of Rs. 88,44,425/- as sales tax liab....