2019 (6) TMI 1555

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....ashyam, JCIT For the Assessee : Mr.Pavithran.N, Adv. ORDER PER SHRI S. JAYARAMAN, ACCOUNTANT MEMBER: The Revenue filed these appeals against the consolidated order of the Commissioner of Income Tax (Appeals)-1, Chennai, in ITA No.New No.84, 86 & 83/CIT(A)-1/2009-10, 2008-09 & 2009-10 dated 31.07.2018 for the AYs 2004-05 & 2005-06. 2 M/s.CSS Corp. Pvt. Ltd., the assessee is engaged i....

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....IT Vs. M/s.Yokogawa India Ltd., reported in [2017] 77 taxmann.com 41 (SC), allowed the assessee's appeal. 4. Aggrieved against those orders, the Revenue filed these appeals with the following grounds for both the AYs: 1. The order of the Ld. CIT(A) is contrary to law, facts and circumstances of the case. 2. The Ld. CIT(A) erred in not applying the rationale of the Apex Court d....

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....int out that an RAP objection has been accepted by the Department and this appeal is eligible as it is covered by exception 10(c). 5. For these and other grounds that may be adduced at the time of hearing, it is prayed that the order of the Ld. CIT(A) be set aside and that of the AO restored. 5. The Ld.DR argued the cases on the lines of the grounds of appeal, supra. 6. Per contra, ....

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..... The provisions of Sub-section 6 of Section 10A, as amended by the Finance Act of 2003, granting the benefit of adjustment of losses and unabsorbed depreciation etc. commencing from the year 2001-02 on completion of the period of tax holiday also virtually works as a deduction which has to be worked out at a future point of time, namely, after the expiry of period of tax holiday. The absence of a....