ACIT LTU-2 , CHENNAI vs. CHEMPLAST SANMAR LIMITED, CHENNAI

In the result, the appeal of the assessee in I

Bench: Shri George Mathan & Shri S. Jayaramanआयकर अपील सं./Ita Nos.2807, 2808, 2809 & 2810/Chny/2017 धनिाजरण वर्ज /Assessment Years: 2010-11, 2011-12, 2012-13 & 2013-14 M/S. Chemplast Sanmar Limited, The Deputy Commissioner Of No.9, Cathedral Road, Income Tax, Chennai – 600 086. Vs. Large Tax Payer Unit, [Pan: Aaacc 3000F] 1775, 21 Mahatma Gandhi High Road, Chennai – 600 034 (अपीलार्थी/Appellant) (प्रत्यथी/Respondent)

gains of business or profession”. In other words, section 40A had effect notwithstanding anything contained in ss. 30 to 39 of the Act. In view of the above observation, the Assessing Officer is directed to follow the decision in the case of Shree Sajjan Mills Ltd. v. CIT 156 ITR 585 (SC) and also the decision in the case

ACIT LTU-2 , CHENNAI vs. CHEMPLAST SANMAR LIMITED, CHENNAI

In the result, the appeal of the assessee in I