DCIT 1(3), Mumbai vs. Syngenta India Ltd, Pune
In the result, appeal of the revenue stands dismissed
ITA 1926/MUM/2014[2009-10]Status: DisposedITAT Mumbai30 Nov 2016AY 2009-10
Bench: Shri R. C. Sharma & Shri Amit Shuklait(Tp)A No.: 1373/Mum/2014 (Assessment Year 2009-10) ससिंगएनता इिंडिमा प्राइवेट सरसभटेि Vs Dy. Cit- 1(3), Room No.564, Syngenta India Ltd., Aayakar Bhavan, S No. 110/11/3, Amar Paradigm M K Road, Mumbai – 400 020 Baner Road, Pune -411 045 स्थमी रेखा सिं. Pan: Aaecs 9424 P अऩीराथी (Appellant) प्रत्मथी (Respondent)
For Respondent: Shri N K Chand
Section 143(3)Section 144C(5)Section 253(1)Section 92C(2)
…circumstances and accounting treatments, it has been held that losses in two units and profit in one unit should be set off before computing deduction – CIT vs. Sundravel Match Industries Pvt Ltd. (MAD) 245 ITR 605 and CIT vs Macmilan Co. of India Ltd. (MAD) 243 ITR 403. Further, it has been held in CIT vs RPG Telecom Ltd. (Kar) 292 ITR 355 that “set off loss in other u nits against the income from eligible units and compute deduction only on the net income”. and accordingly, computed the deduction under section 80IB in the following manner: Name of Unit Profit Loss Net Amount 1)Multipurpose Formulation Unit…
