2015 (1) TMI 1460

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....ppellant : Sri. K.V. Arvind, Adv. For the Respondent : Sri. A. Shankar, Adv. JUDGMENT Per : . Justice N. Kumar, J. The Revenue has preferred this appeal against the order of the Tribunal holding that the deduction under Section 80IA of the Income-tax Act, 1961 (for short, hereinafter referred to as `the Act') is to be computed undertaking wise, i.e., in the manner in which the assessee....

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....: 80IA profit/loss relating to new projects 2515228379       B/F loss C.Y. profit C/f loss Profit adjusted       KADRA -597730705 -114289444 -712020149         KODSALLI -347949850 -72736189 -420686039         BRBC....

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....nly the net/total has to be considered as eligible deduction. The assessee's computation of eligible deduction of Rs. 204,71,50,792/- by considering only four units is therefore, held to be erroneous. Aggrieved by the said order the assessee preferred an appeal to the Commissioner of Income-Tax (Appeals). The said order of the assessing authority was upheld. Hence, the assessee preferred an appeal....

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....nder Section 80IA of the Act after considering those units, in which there is profit after adjustment of brought forward loss of that unit. Aggrieved by the said order, Revenue is in appeal. 4. The appeal was admitted to consider the following substantial question of law: Whether the Tribunal was justified in holding that in granting deduction under Section 80IA of the Act, it is only the in....