DCIT, New Delhi vs. M/S. L.T. Foods Ltd., New Delhi
In the result, the appeal of the Revenue is dismissed and the appeal of the Assessee is allowed in part and for statistical purposes
ITA 4046/DEL/2013[2007-08]Status: DisposedITAT Delhi30 Sept 2020AY 2007-08
Bench: Shri G.S. Pannu, Hon’Ble & Shri K.Narasimha Charydcit Vs. L.T. Foods Ltd., Central Circle-19, Unit No. 134, First Floor, 3Rd Floor, Ara Centre, Rectangle-I, Saket District Centre Jhandewalan Extn. New Delhi. New Delhi.
Section 115Section 132(4)Section 14ASection 153ASection 40Section 40A(3)Section 69Section 80Section 80I
…alingam Modern Rice Mill [2019] 105 taxmann.com 39 (Madras) and CIT Vs. S. Mahalakshmi [2020] 117 taxmann.com 621 (Madras) wherein the decisions of the Hon’ble Supreme Court in the cases of Cynamid India (supra) and Ganesh Trading Co.v.State of Haryana [1974] 3 SCC 620 were considered. The other ground urged by the Ld. DR is that the old machinery put 17. to use by the assessee prior to 01/04/2001 in Bahalgarh unit constitutes more than 20% and, therefore, the claim of the assessee for a deduction under section 80IB(11A) of the Act cannot be allowed in view of explanation (2) to section 80IB of the Act which sti…
