DCIT, CC-XIX, KOLKATA, KOLKATA vs. M/S INTERNATIONAL CONVEYORS PVT. LTD., KOLKATA

per the assessment order for the A.Y.2008-09, however, as mentioned above, for the A.Y.2008-09, the CIT(A) has held that the AO was not justified in adjusting the notional depreciation and business loss from the eligible business of the earlier year for the purpose of computing deduction u/s.80-IA and that the assessee company is entitled to claim deduction u/s.80-IA on the current year’s profit without adjustment.

Therefore, considering the factual position, we are of the view that the AO

18 IT(SS)A No.90-93, 131 & M/s International Conveyors Pvt. Ltd. was not justified in adjusting the notional amount of unabsorbed depreciation of Rs.38,30,422/- from the current year’s profit of the eligible unit to deny the deduction u/s.80-IA of the Act. Therefore, we confirm the order passed by the ld. CIT(A) in respect of grounds No.2 & 3 raised by Rthe Revenue. Hence, the grounds No.2 & 3 raised by the revenue are dismissed. 6.4. In the result, appeals filed by the revenue in IT(SS)A No.131/Kol/2014 & along with IT(SS)A No.90/Kol/2014, IT(SS)A No.91/Kol/2014, IT(SS)A No.92/Kol/2014, IT(SS)A No.93/Kol/2014, are dismissed. Order pronounced in the open court on this 05/12/2016.

Sd/- Sd/- (NARASIMHA CHARY) (DR. A.L.SAINI) �या�यक सद�य / JUDICIAL MEMBER लेखा सद�य / ACCOUNTANT MEMBER कोलकाता /Kolkata; �दनांक Dated 05/12/2016 �काश �म�ा/Prakash Mishra,�न.स/ PS आदेश क� ��त�ल�प अ�े�षत/Copy of the Order forwarded to : 1. अपीलाथ� / The Appellant 2. ��यथ� / The Respondent. 3. आयकर आयु�त(अपील) / The CIT(A), Kolkata. 4. आयकर आयु�त / CIT �वभागीय ��त�न�ध, आयकर अपील�य अ�धकरण, कोलकाता / DR, ITAT, Kolkata 5. 6. गाड� फाईल / Guard file. स�या�पत ��त //True Copy// आदेशानुसार/ BY ORDER,