Uttar Pradesh Rajkiya Nirman Nigam Limited, Lucknow vs. Dy. Commissioner of Income Tax, Lucknow
In the result, the appeal of the assessee is allowed and the appeal of the Department is dismissed
ITA 317/LKW/2017[2010-11]Status: DisposedITAT Lucknow17 May 2019AY 2010-11
Bench: Shri. A. D. Jain & Shri T. S. Kapoorassessment Year: 2010-11 Uttar Pradesh Rajkiya Nirman V. Dcit Nigam Limited Range Vi Vishweshariya Bhawan Lucknow Vibhuti Khand, Gomti Nagar Lucknow Tan/Pan:Aaacu5701F (Appellant) (Respondent) Assessment Year: 2010-11 Dcit V. Uttar Pradesh Rajkiya Nirman Nigam Range Vi Limited Lucknow Vishweshariya Bhawan Vibhuti Khand, Gomti Nagar Lucknow Tan/Pan:Aaacu5701F (Appellant) (Respondent) Assessee By: Shri K. R. Rastogi, Fca Department By: Shri A. K. Bar, Cit (Dr) Date Of Hearing: 30 04 2019 Date Of Pronouncement: 17 05 2019 O R D E R Per A. D. Jain, V.P.: These Cross-Appeals Are Preferred By The Assessee As Well As The Revenue Against The Order Of The Ld. Cit(A)-Ii, Lucknow, Dated 10/3/2017 For The Assessment Year 2010-11. 2. The Sole Ground Of Appeal, Taken By The Assessee In Its Appeal In Ita No.314/Lkw/2017 Is, As Follows:-
For Appellant: Shri K. R. Rastogi, FCAFor Respondent: Shri A. K. Bar, CIT (DR)
Section 194CSection 198Section 40
…profits earned under Section 28(1) of the Act are not disallowable under section 40(a)(ia) of the Act 5(8)(i) The said issue was considered by the Hon'ble ITAT, Delhi in the case of ITO Vs. Aahar Consumer Products Pvt. Limited in ITA No. ITA No.1354/DEL/2010 (10 Taxmann.com 181) as under- ITA No.314 & 317/LKW/2017 Page 16 of 38 Only when the claim of the assessee for deduction is u/s 32 to section 38, the provisions of Section 40(a) (ia) can be pressed into service to disallow such claims for deduction. At the cost of repetition, we may say that to invoke said provision of Section 40(a) (ia), first of all, the…
