2021 (7) TMI 114

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....ELLANTS: SRI K V ARAVIND, ADVOCATE RESPONDENT: SRI M LAVA, ADVOCATE JUDGMENT The present Income tax Appeal is arising out of the order dated 9.5.2014 passed in ITA.No.1341/Bang/2012 by the Income Tax Appellate Tribunal, Bengaluru. 2. This Court after hearing he learned counsel for the parties has framed the following substantial questions of law; "1. Whether on the facts and in the circumsta....

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....n the facts and in the circumstances of the case of Tribunal was correct in accepting the additional ground raised regarding applicability of Section 115JB without appreciating that the assessee has neither raised the issue before the Assessing Officer or before the Appellate Commissioner and the assessee itself in it's return of income has admitted the applicability of Section 115J5 of the Act?" ....

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....ting off of the loss of loss-making units against the profits of the profit - making units, without taking into consideration that deduction is provided to the eligible business and not for an undertaking? 2. Whether on the facts and in the circumstances of the case, the tribunal was correct in holding that section 115JB was not applicable to the assessee in view of Explanation - 3 to section 11....