2018 (10) TMI 2074

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.... in confirming the disallowance of deduction u/s 80IC of Rs. 40,50,000/- made by the Assessing Officer on account of allocation of certain indirect expenses to the eligible units of the Assessee Company without considering the fact that these expenses were not directly or indirectly incurred for the eligible units. (b) The appellant craves leave to amend, alter and add grounds in the appeal if need be, before the hearing." 2. Brief facts of the case are that the assessee is engaged in the business of manufacturing of sheet metal, components for the automobile industry and filed his return on 6th October, 2010 with a total income of Rs. 588495367/-. The assessee claimed exemption u/s 80IC of the Income Tax Act of Rs. 20,55,66,872....

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....ssessee and upheld the action of the Ld. AO. Feeling aggrieved from the order of the Ld. CIT(A) the assessee is in appeal before the ITAT. 3. Ld. AR submitted that the assessee is maintaining regular books of accounts of the Haridwar and Pantnagar unit which are eligible for deduction u/s 80IC as all the requirements for eligibility of deduction u/s 80IC of the Income Tax Act, stood satisfied. He submitted that AO was not justified to make disallowance for common expenses charged to the eligible units and he also submitted that the assesee's case is squarely covered by the decision of the coordinate bench in the case of M/s. DCW Ltd. vs. ACIT in ITA No. 5969/Mum/2008 for the assessment year 2005-06 and he also relied on the judgment of t....