ACIT v. Yokogawa India Ltd.

Niit Technologies Ltd., New Delhi vs. ACIT, New Delhi

In the result, both the appeals of the assessee are partly allowed and the appeal of Revenue for assessment year 2007-08

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

…its of the eligible unit without adjusting the same against- unabsorbed depreciation relating to the non-eligible unit(s). Reliance has also been placed by the appellant on the decision of Bangalore Bench of Tribunal in the case of ACIT v. Yokogawa India Ltd. 111 TTJ 548, wherein it was held that deduction under section 10A shall be allowed from the profits of eligible undertaking without setting off the losses /carried forward losses of other non-eligible divisions. Other cases relied upon by the appellant are as under: • Changepond Technologies (P.) Ltd. V. ACIT: 119 TTJ 18 (Chenn.) • KPIT Cummins Infosystems…

Niit Technologies Ltd., New Delhi vs. ACIT, New Delhi

In the result, both the appeals of the assessee are partly allowed and the appeal of Revenue for assessment year 2007-08

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

…its of the eligible unit without adjusting the same against- unabsorbed depreciation relating to the non-eligible unit(s). Reliance has also been placed by the appellant on the decision of Bangalore Bench of Tribunal in the case of ACIT v. Yokogawa India Ltd. 111 TTJ 548, wherein it was held that deduction under section 10A shall be allowed from the profits of eligible undertaking without setting off the losses /carried forward losses of other non-eligible divisions. Other cases relied upon by the appellant are as under: • Changepond Technologies (P.) Ltd. V. ACIT: 119 TTJ 18 (Chenn.) • KPIT Cummins Infosystems…

ACIT, New Delhi vs. M/S Niit Technologies Ltd., New Delhi

In the result, both the appeals of the assessee are partly allowed and the appeal of Revenue for assessment year 2007-08

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

…its of the eligible unit without adjusting the same against- unabsorbed depreciation relating to the non-eligible unit(s). Reliance has also been placed by the appellant on the decision of Bangalore Bench of Tribunal in the case of ACIT v. Yokogawa India Ltd. 111 TTJ 548, wherein it was held that deduction under section 10A shall be allowed from the profits of eligible undertaking without setting off the losses /carried forward losses of other non-eligible divisions. Other cases relied upon by the appellant are as under: • Changepond Technologies (P.) Ltd. V. ACIT: 119 TTJ 18 (Chenn.) • KPIT Cummins Infosystems…

ACIT, New Delhi vs. M/S Niit Technologies Ltd., New Delhi

In the result, both the appeals of the assessee are partly allowed and the appeal of Revenue for assessment year 2007-08

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

…its of the eligible unit without adjusting the same against- unabsorbed depreciation relating to the non-eligible unit(s). Reliance has also been placed by the appellant on the decision of Bangalore Bench of Tribunal in the case of ACIT v. Yokogawa India Ltd. 111 TTJ 548, wherein it was held that deduction under section 10A shall be allowed from the profits of eligible undertaking without setting off the losses /carried forward losses of other non-eligible divisions. Other cases relied upon by the appellant are as under: • Changepond Technologies (P.) Ltd. V. ACIT: 119 TTJ 18 (Chenn.) • KPIT Cummins Infosystems…

ACIT, New Delhi vs. M/S. Niit Technologies Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed and cross objection of the assessee is allowed for statistical purposes

Bench: : Shri Amit Shukla & Shri L.P. Sahuassessment Year: 2006-07

…its of the eligible unit without adjusting the same against- unabsorbed depreciation relating to the non-eligible unit(s). Reliance has also been placed by the appellant on the decision of Bangalore Bench of Tribunal in the case of ACIT v. Yokogawa India Ltd. 111 TTJ 548, wherein it was held that deduction under section 10A shall be allowed from the profits of eligible undertaking without setting off the losses /carried forward losses of other non-eligible divisions. Other cases relied upon by the appellant are as under: • Changepond Technologies (P.) Ltd. V. ACIT: 119 TTJ 18 (Chenn.) • KPIT Cummins Infosystems…

Prexus Health India (P) Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeal of the assessee is allowed

Bench: Shri S.V. Mehrotraassessment Year : 2011-12 Prexus Health India (P) Ltd., Acit, Circle- 20(1), Ra-4 (Shop), Inder Puri, New Delhi. Vs. New Delhi – 110 012. Pan : Aadcp 7893 A (Appellant) (Respondent)

…he Act was reduced on account of adjustment of unabsorbed business loss and depreciation of Rs.16,49,809/- [A.Y. 2004-05]. 5. ………. 6. ………. 7. ………. 8. ……….. 9. ……….. 10. The above judgments are distinguishable as under: (I) As regards ITAT, Bangalore judgment [111 TTJ 548] in the case of Yokogawa India Ltd, the Karnataka High Court has decided the issue in favour of the assessee as mentioned in 341 ITR 385; (II) As regards ITAT, Chennai Bench judgment (22 SOT 220) in the case of Changepond Technologies Pvt. Ltd., the said company was an Intervener in the ITAT, Chennai special Bench judgment in the case of Scientif…

CIT vs. Tei Technologies Pvt Ltd

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…osses from the non-eligible units cannot be adjusted against the eligible unit for the purposes of Section 10A. Several orders of the various Benches of the Tribunal including the order of the Tribunal in the case of ACIT vs. Yokogava India Limited (2007) 111 TTJ 548, were relied upon by the assessee. The Tribunal, on a consideration of the assessee‟s submissions based on those authorities, held that the facts of the assessee‟s case and the claim made by it were similar to the controversy decided by the Bangalore Bench of the Tribunal in the case of ACIT vs. ITA Nos.347/2011 & 2067/2010…

CIT vs. Tei Technologies Pvt Ltd

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…osses from the non-eligible units cannot be adjusted against the eligible unit for the purposes of Section 10A. Several orders of the various Benches of the Tribunal including the order of the Tribunal in the case of ACIT vs. Yokogava India Limited (2007) 111 TTJ 548, were relied upon by the assessee. The Tribunal, on a consideration of the assessee‟s submissions based on those authorities, held that the facts of the assessee‟s case and the claim made by it were similar to the controversy decided by the Bangalore Bench of the Tribunal in the case of ACIT vs. ITA Nos.347/2011 & 2067/2010…