TITAN COMPANY LIMITED,HOSUR vs. ASSISTANT COMMISSIONER OF INCOME TAX - LTU 2 (IC), CHENNAI
In the result the appeal raised by the assessee is partly allowed
ITA 1742/CHNY/2024[2011- 12]Status: DisposedITAT Chennai04 Dec 2024
Bench: Shri Ss Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1742/Chny/2024 निर्धारण वर्ा /Assessment Years: 2011-12 Titan Company Limited, Assistant Commissioner Of No.3, Sipcot Industrial Complex, Income Tax, Hosur, Krishnagiri, Ltu-2, Tamil Nadu-635126 Chennai [Pan: Aaact5131A] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) : Shri Abhay Kumar, C.A अपीलार्थी की ओर से/ Assessee By : Ms.Komali Krishna, Cit प्रत्यर्थी की ओर से /Revenue By सुनवाई की तारीख/Date Of Hearing : 10.09.2024 घोषणा की तारीख /Date Of Pronouncement : 04.12.2024
For Appellant: Ms.Komali Krishna, CIT
Section 147Section 250Section 80Section 80C(2)(a)Section 80I
801C eligible unit can be allowed to set off against the profits accrued to the assessee from other non-eligible unit. Thus, the said case law decides the set off of loss of eligible unit with profits of other units in the year of loss itself in accordance with provisions of section 70 &
71 [Refer para 23 of the said