2010 (3) TMI 1249

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....a Sinha For the Respondent : Shri S.Rama Rao ORDER Per Chandra Poojari, Accountant Member: These appeals by the revenue and cross objections filed by the assessee are directed against different orders of CIT(A)-III, Hyderabad dated 30.3.2009 pertains assessment years 2004-05 to 2006-07. Since common issues are involved in these appeals, these are clubbed, heard and disposed by this consolidate....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... However, in our opinion, deduction u/s 80IA under the Income Tax Act has to be computed after deduction of notional brought forward losses and depreciation of eligible business, even though they have been allowed to be set off against the other income in earlier years in view of the specific provisions of section 80IA(5), as laid down by the Special Bench, Ahmadabad in the case of ACIT Vs. Gold ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... cross objections, there was a delay of 54 days in filing these COs. The assessee file petition for condonation of delay explaining the reason for delay therein. We have satisfied about the reasons explained by the assessee, which is in bona fide in nature and the assessee having reasonable causes for not filing the appeal in time. The delay is condoned. The assessee raised common grounds in these....