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“deduction u/s 80IA”

DeductionsSection 80IASection 80IA745 judgments

The decision most relied on for deduction u/s 80IA is CIT v. ABG Heavy Industries Ltd. (322 ITR 323), cited in 229 judgments on BharatTax.

Leading authorities on deduction u/s 80IA

CIT v. ABG Heavy Industries Ltd.
322 ITR 323 · 2010 · High Court
229
citing judgments

The Assessing Officer cannot deny a Section 80IA deduction by merely asserting that the assessee is not a "developer" without considering the relevant agreements and facts. Entitlement to Section 80IA deduction requires a thorough examination of the assessee's role as a developer.

CIT v. ITC Ltd.
236 Taxmann 612 · 2016 · High Court
108
citing judgments

When computing deduction under Section 80IA, specifically for inter-unit transfer of power, the benefit cannot be claimed based on rates chargeable by distribution licensees to consumers. The deduction must be computed based on the rate fixed by the Tariff Regulation Commission for sale by electricity generating companies.

CIT v. Jawahar Bhattacharjee
341 ITR 434 · 2012 · High Court
99
citing judgments

An assessment order is erroneous for the purpose of Section 263 if the Assessing Officer fails to apply mind to relevant material, proceeds on an incorrect assumption of facts, or makes an incorrect application of law.

M/s Tamilnadu Petro Products Ltd. v. ACIT
338 ITR 643 · 2011 · High Court
56
citing judgments

For the purpose of Section 80IA relief, the sale of power is not a criterion for granting relief. Captive consumption of power must be valued at market price, and classification of units as saleable or non-saleable is irrelevant for determining the Arm's Length Price (ALP).

Mohan Breweries & Distilleries Ltd. v. Asstt. CIT
116 ITD 241 · 2009 · ITAT
27
citing judgments

The initial assessment year for claiming deduction under Section 80-IA is the first year the assessee actually claims the deduction, not necessarily the first year the enterprise is set up. The deduction under Section 80-IA applies only from the assessment year in which the claim is first made.

CIT v. Anil H. Lad
45 Taxmann.com 98 · 2014 · High Court
20
citing judgments

For the purpose of computing deduction under Section 80-IA, profits of other businesses do not need to be notionally brought forward and have no effect on the deduction claimed. Losses of earlier years already set off cannot be notionally set off again against current income eligible for deduction.

PCIT v. Surya Merchands Ltd.
387 ITR 105 · 2016 · High Court
19
citing judgments

The requirement to furnish an audit report along with the return of income under Section 80IA(7) of the Income Tax Act, 1961, is directory and not mandatory, and will be satisfied if the report is filed during the assessment proceedings.

Patil & Sons Belgaum Constructions (P.) Ltd. v. ACIT. 7. Hon'ble ITAT Mumbai Bench-C
76 Taxmann.com 105 · 2016 · Reported
17
citing judgments

This case is cited for the proposition that deductions under sections 80IA and 80IAB of the Income Tax Act, 1961, are not available for infrastructure facilities unless they are specifically enumerated in the relevant sub-sections.

Judgments citing deduction u/s 80IA

Srf Limited, New Delhi vs. ACIT, Circle- 1, Ltu, New Delhi

In the result, appeal of the assessee is partly allowed

ITA 6620/DEL/2018[2014-15]Status: DisposedITAT Delhi13 Dec 2021AY 2014-15

Bench: Sh. Anil Chaturvedi & Shri Kuldip Singh(Through Video Conferencing) Srf Limited Vs. Acit The Galleria, Dlf Mayur Circle – 1, Vihar, Unit No.236 & 237, Ltu 2Nd Floor, Mayur Place, New Delhi Noida Link Road, Mayur Vihar, Phase-I, Extension, Delhi-110 091 Pan : Aaacs 0206 P (Appellant) (Respondent) Assessee By Shri Pradeep Dinodia, C.A. Revenue By Ms. Meera Srivastava, Cit-D.R. Date Of Hearing: 16.09.2021 Date Of Pronouncement: 13.12.2021 Order Per Anil Chaturvedi, Am :

Section 115JSection 143(2)Section 143(3)Section 144C(5)Section 92C

already on record. 51. In view of the aforesaid facts, we are of the view that the claim of the assessee of the deduction u/s 80IA of the Act merits consideration and adjudication by the AO. We therefore set aside the issue back to the file of AO to consider

ACIT, Circle-7(1), New Delhi vs. Dlf Commercial Developers Ltd., New Delhi

In the result, all the appeals of the Revenue are dismissed

ITA 9227/DEL/2019[2008-09]Status: DisposedITAT Delhi17 Nov 2021AY 2008-09

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri R.S. Singhvi, CAFor Respondent: Shri J.K. Mishra, CIT-D.R
Section 143Section 143(3)Section 263Section 80Section 80I

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’ DELHI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI PRASHANT MAHARISHI, ACCOUNTANT

M/S. Interarch Building Products Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is partly allowed

ITA 1137/DEL/2013[2006-07]Status: DisposedITAT Delhi17 Nov 2021AY 2006-07

Bench: Shri O.P. Kant & Shri Kuldip Singh[Through Video Conferencing] Assessment Year: 2006-07 Interarch Building Vs. Dcit Products Pvt. Ltd., Circle -11 (1) Farm No.8 Khasra New Delhi No.56/23/2, Dera Mandi Village, Mehrauli New Delhi-110047 Pan No.Aaaci0106J (Appellant) (Respondent)

Section 143(3)Section 14ASection 80Section 80ISection 94

IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘C’ NEW DELHI BEFORE SHRI O.P. KANT, ACCOUNTANT MEMBER AND SHRI KULDIP

Hughes Communications India Ltd., New Delhi vs. ACIT, Circle- 12(1), New Delhi

In the result, the captioned appeals of the assessee in ITA Nos

ITA 4550/DEL/2018[2009-10]Status: DisposedITAT Delhi14 Sept 2021AY 2009-10

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Rocktim Saikia, Sr. DR
Section 80Section 80I

books of account and further stated that in the initial Assessment Year i.e. 2007-08, the Assessing Officer had allowed the claim of deduction u/s 80IA of the Act and following the settled principles of consistency, no adverse view should have been taken by the Assessing Officer in the impugned ... assessee vehemently stated that as per the provisions of section 80IA(5) of the Act, for the purposes of determining the quantum of deduction u/s 80IA of the Act, under the said section, the deduction shall be computed as if such 80IA unit is the only source of income

DCIT, New Delhi vs. M/S Hughes Communication India Ltd., New Delhi

In the result, the captioned appeals of the assessee in ITA Nos

ITA 3906/DEL/2015[2009-10]Status: DisposedITAT Delhi14 Sept 2021AY 2009-10

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Rocktim Saikia, Sr. DR
Section 80Section 80I

books of account and further stated that in the initial Assessment Year i.e. 2007-08, the Assessing Officer had allowed the claim of deduction u/s 80IA of the Act and following the settled principles of consistency, no adverse view should have been taken by the Assessing Officer in the impugned ... assessee vehemently stated that as per the provisions of section 80IA(5) of the Act, for the purposes of determining the quantum of deduction u/s 80IA of the Act, under the said section, the deduction shall be computed as if such 80IA unit is the only source of income

M/S. Hughes Communication India Ltd., New Delhi vs. DCIT, New Delhi

In the result, the captioned appeals of the assessee in ITA Nos

ITA 2346/DEL/2014[2008-09]Status: DisposedITAT Delhi14 Sept 2021AY 2008-09

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Rocktim Saikia, Sr. DR
Section 80Section 80I

books of account and further stated that in the initial Assessment Year i.e. 2007-08, the Assessing Officer had allowed the claim of deduction u/s 80IA of the Act and following the settled principles of consistency, no adverse view should have been taken by the Assessing Officer in the impugned ... assessee vehemently stated that as per the provisions of section 80IA(5) of the Act, for the purposes of determining the quantum of deduction u/s 80IA of the Act, under the said section, the deduction shall be computed as if such 80IA unit is the only source of income

DCIT, New Delhi vs. M/S. Hughes Communication India Ltd., New Delhi

In the result, the captioned appeals of the assessee in ITA Nos

ITA 2273/DEL/2014[2008-09]Status: DisposedITAT Delhi14 Sept 2021AY 2008-09

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Rocktim Saikia, Sr. DR
Section 80Section 80I

books of account and further stated that in the initial Assessment Year i.e. 2007-08, the Assessing Officer had allowed the claim of deduction u/s 80IA of the Act and following the settled principles of consistency, no adverse view should have been taken by the Assessing Officer in the impugned ... assessee vehemently stated that as per the provisions of section 80IA(5) of the Act, for the purposes of determining the quantum of deduction u/s 80IA of the Act, under the said section, the deduction shall be computed as if such 80IA unit is the only source of income

Addl. CIT, Special Range- 03, New Delhi vs. Dlf Ltd., New Delhi

ITA 5941/DEL/2017[2012-13]Status: DisposedITAT Delhi10 Sept 2021AY 2012-13

Bench: Shri Amit Shukla & Prashant Maharishi

For Appellant: Shri Surender Pal, CIT-DRFor Respondent: S/Shri R.S. Singhvi & Satyajeet Goel
Section 14A

Gujarat and Karnataka. The assessing officer made the disallowance on the ground that the windmill units located in Gujarat and Karnataka are claiming deduction u/s 80IA and assessee has failed to allocate overhead expenses to these units. Eventually, the assessing officer allocated the establishment, finance and general administration expenses ... submissions and gone through the orders passed by sub-ordinate authorities. The issue before us is allocation of expenses to eligible units claiming deduction u/s 80IA and consequential disallowance in the hands of the assessee company. In short, the assessing officer has observed that common expenses pertaining to units claiming

ACIT, Circle- 22(2), New Delhi vs. Sbec Bioenergy Ltd., New Delhi

In the result, appeal of the Revenue is dismissed

ITA 1001/DEL/2018[2013-14]Status: DisposedITAT Delhi06 Sept 2021AY 2013-14

Bench: Sh. Anil Chaturvedi & Sh. Kul Bharat(Through Video Conferencing) Acit Vs. Sbec Bioenergy Ltd. Circle – 22(2), 1400, Hemkunt Tower New Delhi 98, Nehru Place, New Delhi-110019 Pan : Aadcs 9993 C (Appellant) (Respondent) Assessee By Shri Premjit Singh Kashyap, C.A. Revenue By Ms. Rinku Singh, Sr. D.R. Date Of Hearing: 02.09.2021 Date Of Pronouncement: 06.09.2021 Order Per Anil Chaturvedi, Am :

Section 143(3)

added an amount of Rs.68,284,240/-(289340 x 236) to the income of the assessee. Inter alia, the assessee’s claim for deduction u/s 80IA on 6 sale of steam was also disallowed on the ground that steam was not power within the meaning of provisions of section ... Besides, on the basis of his findings in the preceding years, the AO disallowed the claim for deduction u/s 80IA of the Act on the 50% of the receipts on sale of power to UPSEB, expenditure incurred being higher than the net sale proceeds of power. 3. On appeal

Sms Paryavarna Jv, Delhi vs. ACIT, Circle- 39(1), New Delhi

In the result, the appeal of the assessee is dismissed

ITA 4112/DEL/2017[2012-13]Status: DisposedITAT Delhi04 Aug 2021AY 2012-13

Bench: Sh. Kul Bharatdr. B. R. R. Kumar(Through Video Conferencing) Ita No. 4112/Del/2017 : Asstt. Year : 2012-13 Sms Paryavarna Jv, Vs Acit, E-1/4, Sector-7, Rohini, Circle-39(1), New Delhi-110085 New Delhi (Appellant) (Respondent) Pan No. Aaeas7202D Assessee By : None Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 28.07.2021 Date Of Pronouncement: 04.08.2021

For Appellant: NoneFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 80I

grounds have been raised by the assessee: “a) Deduction claimed by the assessee amounting to Rs.6,07,93,706/- should be allowable as deduction u/s 80IA of the Income Tax Act, 1961. b) Disallowance of expenses amounting to Rs.1,12,360/- should be set aside and the claim of expense ... Hence, on going through the record before us, the matter is being adjudicated on merits of the case. 4. The assessee has claimed deduction u/s 80IA(4) of the Act of Rs.6,07,93,706/-. The assessee is a contractor with Urban Improvement Trust, Kota to joint, test, commission

DCIT, New Delhi vs. M/S Sil Investment Ltd., Rajasthan

In the result, appeal of the Revenue is dismissed

ITA 3539/DEL/2011[2003-04]Status: DisposedITAT Delhi16 Jul 2021AY 2003-04

Bench: Sh. Anil Chaturvedi & Sh. Kuldip Singh(Through Video Conferencing) Dcit Vs. M/S. Sil Investment Ltd., Circle – 23(2), (Formerly Known As Sutlej New Delhi – 02 Industries Ltd.) Panchpahar Road, Bhawani Mandi, Jhalawar, Pan No. Aabcs 2899 H Rajasthan - 326502 (Appellant) (Respondent) Assessee By Shri Rohit Jain, Adv. Revenue By Shri Prakash Dubey, Sr. D.R. Date Of Hearing: 13/07/2021 Date Of Pronouncement: 16/07/2021 Order Per Anil Chaturvedi, Am:

Section 115JSection 143(3)Section 147Section 148Section 80ISection 80M

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI BEFORE SH. ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SH. KULDIP

ACIT, Central Circle-6, New Delhi vs. Oxygen Business Park P.Ltd, G M Nagar

In the result, the appeal filed by the Revenue is dismissed

ITA 7826/DEL/2018[2011-12]Status: DisposedITAT Delhi28 Jun 2021AY 2011-12

Bench: Shri O.P. Kant & Shri Kuldip Singh[Through Video Conferencing]

Section 132Section 153ASection 271Section 80I

IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘G’ NEW DELHI BEFORE SHRI O.P. KANT, ACCOUNTANT MEMBER AND SHRI KULDIP

M/S. Tikaula Sugar Mills Ltd., Muzaffarnagar vs. ACIT, Muzaffarnagar

In the result, the appeal filed by the assessee is partly allowed

ITA 4980/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Jun 2021AY 2012-13
For Appellant: Shri Akhilesh Kumar, AdvocateFor Respondent: Shri Prakash Dubey, Sr. DR
Section 115JSection 80I

power. It filed its return of income on 25th September, 2012 declaring gross total income at Rs.2,07,36,601/-. After claiming deduction u/s 80IA (4)(iv) of the IT Act, 1961, it filed the return of income at Rs.1,24,33,055/-. However, the book profit u/s 115JB

DCIT, New Delhi vs. M/S. Hero Honda Motors Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 6302/DEL/2015[2005-06]Status: DisposedITAT Delhi13 Apr 2021AY 2005-06

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2005-06

Section 14ASection 32(1)(iia)Section 80I

Rs.8.75, which was less than the rate of Rs. 9.84 charged by Maruti, was quite a reasonable for the purposes of computing deduction u/s 80IA(4) of the Act. Therefore we reverse the disallowance made by the Ld. assessing officer of deduction of Rs. 8 0 7.76 Lacs under section

M/S. Hero Motocorp Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 6282/DEL/2015[2005-06]Status: DisposedITAT Delhi13 Apr 2021AY 2005-06

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2005-06

Section 14ASection 32(1)(iia)Section 80I

Rs.8.75, which was less than the rate of Rs. 9.84 charged by Maruti, was quite a reasonable for the purposes of computing deduction u/s 80IA(4) of the Act. Therefore we reverse the disallowance made by the Ld. assessing officer of deduction of Rs. 8 0 7.76 Lacs under section

DCIT, New Delhi vs. M/S Malana Power Co. Ltd., New Delhi

In the result, appeal filed by the learned assessing officer in ITA number 3713/del/2017 for assessment year 2012 – 13 is dismissed

ITA 3713/DEL/2017[2012-13]Status: DisposedITAT Delhi23 Mar 2021AY 2012-13

Bench: Shri Amit Shuklaa N D Shri Prashant Maharishi(Through Video Conferencing) Dcit, Vs. Malana Power Co. Ltd, Bhilwara Bhawan, Circle-16(1)M 40-41, Community Centre, New Friends Colony, New Delhi New Delhi Pan: Aabcm1108R (Appellant) (Respondent) Malana Power Co. Ltd, Vs. Addl. Dcit, Bhilwara Bhawan, 40-41, Community Centre, New Range-6, Friends Colony, New Delhi New Delhi Pan: Aabcm1108R (Appellant) (Respondent)

For Appellant: Shri P. K. Jain, CAFor Respondent: Shri Sohil Malik, Sr. DR
Section 115JSection 14Section 14ASection 2(14)Section 80I

Whether on facts and in circumstances of the case, the Ld. CIT(A) is legally justified in allowing deduction u/s 80IA of the Act on amount of Rs. 5,07,000/- which include ‘income from other sources’ including rental income? 6. Whether on facts and in circumstances of the case ... facts and circumstances of the case Ld. CIT (Appeals) has erred in law and on facts in upholding the disallowance of claim of deduction u/s 80IA on interest earned on bank deposit of Rs. 1,41,80,000/- considering the same as not derived from business.” 4. Brief facts

Malana Power Co. Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, appeal filed by the learned assessing officer in ITA number 3713/del/2017 for assessment year 2012 – 13 is dismissed

ITA 2464/DEL/2017[2012-13]Status: DisposedITAT Delhi23 Mar 2021AY 2012-13

Bench: Shri Amit Shuklaa N D Shri Prashant Maharishi(Through Video Conferencing) Dcit, Vs. Malana Power Co. Ltd, Bhilwara Bhawan, Circle-16(1)M 40-41, Community Centre, New Friends Colony, New Delhi New Delhi Pan: Aabcm1108R (Appellant) (Respondent) Malana Power Co. Ltd, Vs. Addl. Dcit, Bhilwara Bhawan, 40-41, Community Centre, New Range-6, Friends Colony, New Delhi New Delhi Pan: Aabcm1108R (Appellant) (Respondent)

For Appellant: Shri P. K. Jain, CAFor Respondent: Shri Sohil Malik, Sr. DR
Section 115JSection 14Section 14ASection 2(14)Section 80I

Whether on facts and in circumstances of the case, the Ld. CIT(A) is legally justified in allowing deduction u/s 80IA of the Act on amount of Rs. 5,07,000/- which include ‘income from other sources’ including rental income? 6. Whether on facts and in circumstances of the case ... facts and circumstances of the case Ld. CIT (Appeals) has erred in law and on facts in upholding the disallowance of claim of deduction u/s 80IA on interest earned on bank deposit of Rs. 1,41,80,000/- considering the same as not derived from business.” 4. Brief facts

DCIT, Circle- 22(2), New Delhi vs. Sbec Bioenergy Ltd., Baghpat

In the result, the appeal of the revenue dismissed

ITA 6097/DEL/2017[2014-15]Status: DisposedITAT Delhi19 Mar 2021AY 2014-15

Bench: Sh. Bhavnesh Sainidr. B. R. R. Kumar(Through Video Conferencing) Ita No. 6097/Del/2017 : Asstt. Year : 2014-15 Dcit, Vs Sbec Bioenergy Ltd., Circle-22(2), Village Loyan Malakpur, Tehsil New Delhi Baraut, Baghpat, U.P. (Appellant) (Respondent) Pan No. Aadcs9993C Assessee By : Sh. P. C. Kashyap, Fca Revenue By : Sh. Prakash Dubey, Sr. Dr Date Of Hearing: 11.03.2021 Date Of Pronouncement: 19 .03.2021

For Appellant: Sh. P. C. Kashyap, FCAFor Respondent: Sh. Prakash Dubey, Sr. DR
Section 115JSection 143(1)Section 143(2)Section 80Section 80I

added an amount of Rs.68,284,240/-(289340 x 236) to the income of the assessee. Inter alia, the assessee’s claim for deduction u/s 80IA on sale of steam was also disallowed on the ground that steam was not power within the meaning of provisions of section ... Besides, on the basis of his findings in the preceding years, the AO disallowed the claim for deduction u/s 80IA of the Act on the 50% of the receipts on sale of power to UPSEB, expenditure incurred being higher than the net sale proceeds of power. 3. On appeal

Petronet Lng Ltd., New Delhi vs. Addl. CIT, New Delhi

Appeal of the assessee is allowed

ITA 5232/DEL/2015[2011-12]Status: DisposedITAT Delhi18 Mar 2021AY 2011-12

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

Petronet LNG Ltd. were set off against the losses. In the relevant A.Y. 2009-10, the assessee also had profits and claimed a deduction u/s 80IA. ITA No. 4902/Del/2015 (Revenue’s Appeal): Disallowance u/s 80IA: 9. The AO disallowed deduction claimed stating that the assessee does not have any profits ... against the profits for the relevant assessment year thereby reducing the profits. 10. The assessee stated that for the purpose of computing deduction u/s 80IA, unabsorbed depreciation of earlier years already set off against income of the assessee in the preceding years should not be notionally brought forwarded

Petronet Lng Ltd., New Delhi vs. Addl. CIT, New Delhi

Appeal of the assessee is allowed

ITA 5231/DEL/2015[2010-11]Status: DisposedITAT Delhi18 Mar 2021AY 2010-11

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

Petronet LNG Ltd. were set off against the losses. In the relevant A.Y. 2009-10, the assessee also had profits and claimed a deduction u/s 80IA. ITA No. 4902/Del/2015 (Revenue’s Appeal): Disallowance u/s 80IA: 9. The AO disallowed deduction claimed stating that the assessee does not have any profits ... against the profits for the relevant assessment year thereby reducing the profits. 10. The assessee stated that for the purpose of computing deduction u/s 80IA, unabsorbed depreciation of earlier years already set off against income of the assessee in the preceding years should not be notionally brought forwarded