2022 (5) TMI 1012

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.... PER SANJAY GARG, JUDICIAL MEMBER: The present appeal has been preferred by the assessee against the order dated 27.12.2021 of the National Faceless Appeal Centre [hereinafter referred to as 'CIT(A)'] passed u/s 250 of the Income Tax Act (hereinafter referred to as the 'Act'). The assessee has taken the following grounds of appeal: "1. The Hon'ble CIT(A) erred in holding that the....

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.... demand raised Rs 12,31,448/- as protective demand. The Ld. CIT (A) erred in not deciding the alternate ground. 3. Appellant pray that deduction U/s.80-IA as claimed be granted or alternatively deduction allowable U/s.10B be suitable enhanced. 4 Assessee crave your honours leave to add, amend, or modify any grounds of appeals at the time of hearing or before." 2. At the outset....

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.... that so far as the assessment year under consideration is concerned, the assessee otherwise is entitled to the deduction u/s 10B of the Act, irrespective of the fact whether deduction u/s 80IA(4) is allowed or not. The ld. Counsel, therefore, has submitted that the issue relating to the entitlement of deduction u/s 80IA(4) in relation to the subsequent years may be kept open. However, for the Ass....

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....he assessee may be affected by some tax implications. In view of above submissions, for the assessment year under consideration without adjudicating upon the issue of the eligibility of the assessee for claiming deduction u/s 80IA(4) on the power captive unit, the appeal is disposed off with the direction to the Assessing Officer to compute the eligible profits of the assessee by taking the entire....