ACIT, BANGALORE vs. M/S KHIVRAJ MOTORS, BANGALORE
In the result, appeal of the Revenue is dismissed
ITA 894/BANG/2016[2012-13]Status: DisposedITAT Bangalore02 Jun 2017AY 2012-13
Bench: Shri. A. K. Garodia & Shri. Lalit Kumari.T.A Nos.894/Bang/2016 (Assessment Year : 2012-13) Asst. Commissioner Of Income-Tax, Circle -1(2)(1), Bengaluru .. Appellant V. M/S. Khivraj Motors, No.10/2, 4Th Floor, Kasturba Road, Bengaluru 560 001 .. Respondent Pan : Aaafk6627K Assessee By : Shri. H. N. Khincha, Ca Revenue By : Shri. M. K. Biju, Jcit Heard On : 01.06.2017 Pronounced On : 02.06.2017 O R D E R Per Lalit Kumar:
For Appellant: Shri. H. N. Khincha, CAFor Respondent: Shri. M. K. Biju, JCIT
Section 143(2)Section 80Section 801Section 801ASection 80I
depreciation and loss suffered in the eligible business, again the same cannot be set off against the profits derived from the eligible business if and when a claim for deduction is made.
9. The Madras High Court in the aforesaid Velayudhaswamy's case interpreting the very provision held, from. a reading of sub-section (1)
Section 8o