2022 (5) TMI 370

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....y in respect of deduction u/s.80IA of the Act regarding captive power plant operated by the assessee, the issue had been held against the assessee. Aggrieved against the order of the Tribunal, the assessee had carried the matter in appeal to the Hon'ble High Court of Orissa in ITA No.163 of 2011. The Hon'ble Jurisdictional High Court had in its order dated 31.07.2019 adjudicated the issues of 80IA and had in page 4 of the Hon'ble High Court's order following the decision of the Hon'ble Gujarat High Court in the case of CIT Vs. Alembic Limited, reported in Manu/GJ/1414/2016 (decided on 20.07.2016), against which SLP had been filed before the Hon'ble Supreme Court bearing SLP No.8070 of 2017, had held that subject to the result of the SLP in ....

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....here was no requirement of maintenance of separate books of accounts under the provisions of Section 80IA of the Act. The ld. AR further drew our attention to page 405 of the paper book which was the copy of the audit report in Form 10CCB being the audit report u/s.80IA of the Act. Ld. AR also drew our attention to page 140 of the paper book which was the copy of the letter dated 11.12.2006 from the assessee to the ACIT, Circle-1(1), Sambalpur, wherein in para 2.3, the audit report in Form 10CCB is specifically mentioned. It was the submission that the audit report in the Form 10CCB had been specifically produced before the AO. It was the submission of the ld. AR that as both the objections of the ld. AO have been met on a factual matrix an....