2026 (9) TMI 263

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.... Appellant. Mr (Dr.) Sunil M. Lala i/b. Mr. Atul K. Jasani, for the Respondent. ORDER 1. Heard Mr. Khanchandani, learned Counsel for the Appellant. 2. This Appeal has been filed by the Revenue assailing the Judgment and Order dated 12th July, 2017 passed by the Income Tax Appellate Tribunal, Pune Bench in Income Tax Appeal No. 1295/PUN/2015 for Assessment year 2010-11. The learned Depa....

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....n of law has been answered against the Revenue and in favour of the Assesses. 4. In the case of Schmetz India (P) Ltd(supra), we find that the substantial questions of law framed by the Court were as follows : "Whether on the facts and in the circumstances of the case and in law the Tribunal was justified (A) in coming to the conclusion that there was nothing on record to show....

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....computed without setting off of the loss from the trading unit against the profits of the export oriented unit entitled to deduction under S. 10A of the Act.?" 5. The decision in Schmetz India (P) Ltd. (supra) was followed in Pragati Aroma Oil Distillers Private Ltd. v/s. Deputy Commissioner of Income Tax [(2026) 187 taxmann.com 31(Bombay)] and the appeal was admitted on the following substanti....