CLASSIC LINEN INTERNATIONAL PVT LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 1(2), CHENNAI

In the result, the appeal filed by assessee in iTA

Bench: Shri N.R.S. Ganesan & Shri Ramit Kochar"नधा$रण वष$ /Assessment Year: 2011-12

3) of section 74, in so far as such loss relates to the business of the undertaking, shall be carried forward or set off where such loss relates to any of the relevant assessment years; (iii) no deduction shall be allowed under section 80HH or section 80HHA or section 80-I or section 80-IA or section

ACIT, CHENNAI vs. MEGASOFT LTD., CHENNAI

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

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.2560/Mds/2014 आयकर अपील सं./Ita Nos.1250, 1251 & 1252/Mds/2015 आयकर अपील सं./Ita No. 1416/Mds/2015 "नधा"रण वष"/Assessment Years: 2007-08, 2006-07, 2008-09, 2010-11 & 2011-12 The Deputy Commissioner Of M/S Megasoft Limited, Income Tax, Company Circle Iv(2), V. No.85, Kutchery Road, The Assistant Commissioner Of Mylapore, Chennai - 600 004. Income Tax, Corporate Circle 4(1), Chennai - 600 034. Pan : Aabcm 8933 A (अपीलाथ"/Appellant) (""यथ"/Respondent)

3. On the contrary, Dr. C.P. Ramaswami, the Ld.counsel for the assessee, submitted that Section 10A of the Act is a provision for exemption and not a deduction. The losses suffered by other eligible unit cannot be set off against the profit of Section 10A unit before giving exemption. According to the Ld. counsel, the benefit of Section 10A

ACIT, CHENNAI vs. MEGASOFT LTD., CHENNAI

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

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.2560/Mds/2014 आयकर अपील सं./Ita Nos.1250, 1251 & 1252/Mds/2015 आयकर अपील सं./Ita No. 1416/Mds/2015 "नधा"रण वष"/Assessment Years: 2007-08, 2006-07, 2008-09, 2010-11 & 2011-12 The Deputy Commissioner Of M/S Megasoft Limited, Income Tax, Company Circle Iv(2), V. No.85, Kutchery Road, The Assistant Commissioner Of Mylapore, Chennai - 600 004. Income Tax, Corporate Circle 4(1), Chennai - 600 034. Pan : Aabcm 8933 A (अपीलाथ"/Appellant) (""यथ"/Respondent)

3. On the contrary, Dr. C.P. Ramaswami, the Ld.counsel for the assessee, submitted that Section 10A of the Act is a provision for exemption and not a deduction. The losses suffered by other eligible unit cannot be set off against the profit of Section 10A unit before giving exemption. According to the Ld. counsel, the benefit of Section 10A

ACIT, CHENNAI vs. MEGASOFT LTD., CHENNAI

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

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.2560/Mds/2014 आयकर अपील सं./Ita Nos.1250, 1251 & 1252/Mds/2015 आयकर अपील सं./Ita No. 1416/Mds/2015 "नधा"रण वष"/Assessment Years: 2007-08, 2006-07, 2008-09, 2010-11 & 2011-12 The Deputy Commissioner Of M/S Megasoft Limited, Income Tax, Company Circle Iv(2), V. No.85, Kutchery Road, The Assistant Commissioner Of Mylapore, Chennai - 600 004. Income Tax, Corporate Circle 4(1), Chennai - 600 034. Pan : Aabcm 8933 A (अपीलाथ"/Appellant) (""यथ"/Respondent)

3. On the contrary, Dr. C.P. Ramaswami, the Ld.counsel for the assessee, submitted that Section 10A of the Act is a provision for exemption and not a deduction. The losses suffered by other eligible unit cannot be set off against the profit of Section 10A unit before giving exemption. According to the Ld. counsel, the benefit of Section 10A

DCIT, CHENNAI vs. MEGASOFT LIMITED, CHENNAI

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

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.2560/Mds/2014 आयकर अपील सं./Ita Nos.1250, 1251 & 1252/Mds/2015 आयकर अपील सं./Ita No. 1416/Mds/2015 "नधा"रण वष"/Assessment Years: 2007-08, 2006-07, 2008-09, 2010-11 & 2011-12 The Deputy Commissioner Of M/S Megasoft Limited, Income Tax, Company Circle Iv(2), V. No.85, Kutchery Road, The Assistant Commissioner Of Mylapore, Chennai - 600 004. Income Tax, Corporate Circle 4(1), Chennai - 600 034. Pan : Aabcm 8933 A (अपीलाथ"/Appellant) (""यथ"/Respondent)

3. On the contrary, Dr. C.P. Ramaswami, the Ld.counsel for the assessee, submitted that Section 10A of the Act is a provision for exemption and not a deduction. The losses suffered by other eligible unit cannot be set off against the profit of Section 10A unit before giving exemption. According to the Ld. counsel, the benefit of Section 10A

ACIT, CHENNAI vs. MEGASOFT LTD., CHENNAI

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

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.2560/Mds/2014 आयकर अपील सं./Ita Nos.1250, 1251 & 1252/Mds/2015 आयकर अपील सं./Ita No. 1416/Mds/2015 "नधा"रण वष"/Assessment Years: 2007-08, 2006-07, 2008-09, 2010-11 & 2011-12 The Deputy Commissioner Of M/S Megasoft Limited, Income Tax, Company Circle Iv(2), V. No.85, Kutchery Road, The Assistant Commissioner Of Mylapore, Chennai - 600 004. Income Tax, Corporate Circle 4(1), Chennai - 600 034. Pan : Aabcm 8933 A (अपीलाथ"/Appellant) (""यथ"/Respondent)

3. On the contrary, Dr. C.P. Ramaswami, the Ld.counsel for the assessee, submitted that Section 10A of the Act is a provision for exemption and not a deduction. The losses suffered by other eligible unit cannot be set off against the profit of Section 10A unit before giving exemption. According to the Ld. counsel, the benefit of Section 10A

COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED,CHENNAI vs. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(1),, CHENNAI

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita Nos.1193, 1194, 1205, 1206 & 1207/Chny/2024 ("नधा"रण वष" / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Vs Cognizant Technology Solutions The Asst. Commissioner India Pvt. Ltd., Of Income Tax, No.5/535, Okkiam Thoraipakkam, Central Circle 1(1), Old Mahabalipuram Road, Chennai. Chennai – 600 096. Pan : Aaacd 3312M (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita Nos.1262, 1263, 1264, 1265 & 1266/Chny/2024 ("नधा"रण वष" / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Vs The Asst. Commissioner Of Cognizant Technology Income Tax, Solutions India Pvt. Ltd., Central Circle 1(1), No.5/535, Okkiam Chennai. Thoraipakkam, Old Mahabalipuram Road, Chennai – 600 096. Pan : Aaacd 3312M (अपीलाथ"/Appellant) (""यथ"/Respondent)

3: Disallowance of set-off of losses incurred by units eligible for deduction under section 10A and 10AA against other taxable income. 26. The facts relating to the issue of disallowance of set-off of losses incurred by units eligible for deduction u/s.10A and 10AA against other taxable income is common for all the A.Ys being A.Y.2010-11

COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED,CHENNAI vs. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(1),, CHENNAI

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita Nos.1193, 1194, 1205, 1206 & 1207/Chny/2024 ("नधा"रण वष" / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Vs Cognizant Technology Solutions The Asst. Commissioner India Pvt. Ltd., Of Income Tax, No.5/535, Okkiam Thoraipakkam, Central Circle 1(1), Old Mahabalipuram Road, Chennai. Chennai – 600 096. Pan : Aaacd 3312M (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita Nos.1262, 1263, 1264, 1265 & 1266/Chny/2024 ("नधा"रण वष" / Assessment Years: 2010-11, 2011-12, 2012-13, 2013-14 & 2014-15) Vs The Asst. Commissioner Of Cognizant Technology Income Tax, Solutions India Pvt. Ltd., Central Circle 1(1), No.5/535, Okkiam Chennai. Thoraipakkam, Old Mahabalipuram Road, Chennai – 600 096. Pan : Aaacd 3312M (अपीलाथ"/Appellant) (""यथ"/Respondent)

3: Disallowance of set-off of losses incurred by units eligible for deduction under section 10A and 10AA against other taxable income. 26. The facts relating to the issue of disallowance of set-off of losses incurred by units eligible for deduction u/s.10A and 10AA against other taxable income is common for all the A.Ys being A.Y.2010-11

DCIT, CHENNAI vs. ALAGUMALAI IMPEX P. LTD., CHENNAI

In the result, the appeal filed by the Revenue is dismissed and the appeals filed by the assessee for both the assessment years are allowed

Bench: Shri Chandra Poojari & Shri Duvvuru Rl Reddy

depreciation must not be set off against income of the undertaking before giving deduction under section 10A/10B of the Act. 2. Brief facts of the case are that the assessee is engaged in the manufacture and export of groundnut kernels, blanched groundnut kernels, yellow maize, cashew kernels and vegetable oil. The assessee filed its return of income for the assessment

M/S. ALAGUMALAI IMPEX PVT. LTD.,CHENNAI vs. DCIT, CHENNAI

In the result, the appeal filed by the Revenue is dismissed and the appeals filed by the assessee for both the assessment years are allowed

Bench: Shri Chandra Poojari & Shri Duvvuru Rl Reddy

depreciation must not be set off against income of the undertaking before giving deduction under section 10A/10B of the Act. 2. Brief facts of the case are that the assessee is engaged in the manufacture and export of groundnut kernels, blanched groundnut kernels, yellow maize, cashew kernels and vegetable oil. The assessee filed its return of income for the assessment

ALAGUMALAI IMPEX PVT LTD.,CHENNAI vs. DCIT, CHENNAI

In the result, the appeal filed by the Revenue is dismissed and the appeals filed by the assessee for both the assessment years are allowed

Bench: Shri Chandra Poojari & Shri Duvvuru Rl Reddy

depreciation must not be set off against income of the undertaking before giving deduction under section 10A/10B of the Act. 2. Brief facts of the case are that the assessee is engaged in the manufacture and export of groundnut kernels, blanched groundnut kernels, yellow maize, cashew kernels and vegetable oil. The assessee filed its return of income for the assessment

POLYHOSE INDIA RUBBER PVT. LTD.,CHENNAI vs. ACIT, CHENNAI

In the result, appeals of the assessee in ITA No

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकरअपीलसं./I.T.A.Nos.3387, 3388 & 3389/Mds/2016 ("नधा"रणवष" / Assessment Years: 2008-2009, 2009-10 & 2011-12) M/S. Polyhose India (Rubber) Pvt. Vs The Asst. Commissioner Of Ltd., Income Tax, C/O. B. Sivaraman & Associates, Ca Corporate Circle-V(2), 10, E Block, Karthik Apartments, Chennai – 34. 46, Vijayaragava Road, Chennai – 600 017. Pan: Aadcp4173F (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकरअपीलसं./I.T.A.No.17/Mds/2017 ("नधा"रणवष" / Assessment Year: 2009-2010) Vs M/S. Polyhose India (Rubber) Pvt. The Deputy Commissioner Of Income Tax, Ltd., F-37 To F-42, Corporate Circle-5(2), Sipcot Industrial Park, Chennai – 34. Irungattukottai, Kanchipuram - 602105 Pan: Aadcp4173F (अपीलाथ"/Appellant) (""यथ"/Respondent) : Smt. S. Vijayaprabha, Jcit "नधा"रती क" ओर से /Assessee By : Shri S. Sridhar, Advocate राज"व क" ओर से /Revenue By : 26.09.2017 सुनवाईक"तार"ख/Date Of Hearing : 22.11.2017 घोषणाक"तार"ख /Date Of Pronouncement

3) of the Act. 5. Assessee’s Appeal: Assessment year 2008-09 & 2011-12: Ground No.2(i) : Exclusion of brought forward losses and carry forward depreciation from the profit of the assessee & ITA No.17/Mds/2017 company while arriving at the eligible profit for granting deduction U/s. 10B of the Act:- While computing the eligible profit for granting deduction U/s.10B

POLYHOSE INDIA RUBBER PVT. LTD.,CHENNAI vs. ACIT, CHENNAI

In the result, appeals of the assessee in ITA No

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकरअपीलसं./I.T.A.Nos.3387, 3388 & 3389/Mds/2016 ("नधा"रणवष" / Assessment Years: 2008-2009, 2009-10 & 2011-12) M/S. Polyhose India (Rubber) Pvt. Vs The Asst. Commissioner Of Ltd., Income Tax, C/O. B. Sivaraman & Associates, Ca Corporate Circle-V(2), 10, E Block, Karthik Apartments, Chennai – 34. 46, Vijayaragava Road, Chennai – 600 017. Pan: Aadcp4173F (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकरअपीलसं./I.T.A.No.17/Mds/2017 ("नधा"रणवष" / Assessment Year: 2009-2010) Vs M/S. Polyhose India (Rubber) Pvt. The Deputy Commissioner Of Income Tax, Ltd., F-37 To F-42, Corporate Circle-5(2), Sipcot Industrial Park, Chennai – 34. Irungattukottai, Kanchipuram - 602105 Pan: Aadcp4173F (अपीलाथ"/Appellant) (""यथ"/Respondent) : Smt. S. Vijayaprabha, Jcit "नधा"रती क" ओर से /Assessee By : Shri S. Sridhar, Advocate राज"व क" ओर से /Revenue By : 26.09.2017 सुनवाईक"तार"ख/Date Of Hearing : 22.11.2017 घोषणाक"तार"ख /Date Of Pronouncement

3) of the Act. 5. Assessee’s Appeal: Assessment year 2008-09 & 2011-12: Ground No.2(i) : Exclusion of brought forward losses and carry forward depreciation from the profit of the assessee & ITA No.17/Mds/2017 company while arriving at the eligible profit for granting deduction U/s. 10B of the Act:- While computing the eligible profit for granting deduction U/s.10B

POLYHOSE INDIA RUBBER PVT. LTD.,CHENNAI vs. ACIT, CHENNAI

In the result, appeals of the assessee in ITA No

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकरअपीलसं./I.T.A.Nos.3387, 3388 & 3389/Mds/2016 ("नधा"रणवष" / Assessment Years: 2008-2009, 2009-10 & 2011-12) M/S. Polyhose India (Rubber) Pvt. Vs The Asst. Commissioner Of Ltd., Income Tax, C/O. B. Sivaraman & Associates, Ca Corporate Circle-V(2), 10, E Block, Karthik Apartments, Chennai – 34. 46, Vijayaragava Road, Chennai – 600 017. Pan: Aadcp4173F (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकरअपीलसं./I.T.A.No.17/Mds/2017 ("नधा"रणवष" / Assessment Year: 2009-2010) Vs M/S. Polyhose India (Rubber) Pvt. The Deputy Commissioner Of Income Tax, Ltd., F-37 To F-42, Corporate Circle-5(2), Sipcot Industrial Park, Chennai – 34. Irungattukottai, Kanchipuram - 602105 Pan: Aadcp4173F (अपीलाथ"/Appellant) (""यथ"/Respondent) : Smt. S. Vijayaprabha, Jcit "नधा"रती क" ओर से /Assessee By : Shri S. Sridhar, Advocate राज"व क" ओर से /Revenue By : 26.09.2017 सुनवाईक"तार"ख/Date Of Hearing : 22.11.2017 घोषणाक"तार"ख /Date Of Pronouncement

3) of the Act. 5. Assessee’s Appeal: Assessment year 2008-09 & 2011-12: Ground No.2(i) : Exclusion of brought forward losses and carry forward depreciation from the profit of the assessee & ITA No.17/Mds/2017 company while arriving at the eligible profit for granting deduction U/s. 10B of the Act:- While computing the eligible profit for granting deduction U/s.10B

DCIT, CHENNAI vs. POLYHOSE INDIA (RUBBER) PVT. LTD., KANCHEEPURAM

In the result, appeals of the assessee in ITA No

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकरअपीलसं./I.T.A.Nos.3387, 3388 & 3389/Mds/2016 ("नधा"रणवष" / Assessment Years: 2008-2009, 2009-10 & 2011-12) M/S. Polyhose India (Rubber) Pvt. Vs The Asst. Commissioner Of Ltd., Income Tax, C/O. B. Sivaraman & Associates, Ca Corporate Circle-V(2), 10, E Block, Karthik Apartments, Chennai – 34. 46, Vijayaragava Road, Chennai – 600 017. Pan: Aadcp4173F (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकरअपीलसं./I.T.A.No.17/Mds/2017 ("नधा"रणवष" / Assessment Year: 2009-2010) Vs M/S. Polyhose India (Rubber) Pvt. The Deputy Commissioner Of Income Tax, Ltd., F-37 To F-42, Corporate Circle-5(2), Sipcot Industrial Park, Chennai – 34. Irungattukottai, Kanchipuram - 602105 Pan: Aadcp4173F (अपीलाथ"/Appellant) (""यथ"/Respondent) : Smt. S. Vijayaprabha, Jcit "नधा"रती क" ओर से /Assessee By : Shri S. Sridhar, Advocate राज"व क" ओर से /Revenue By : 26.09.2017 सुनवाईक"तार"ख/Date Of Hearing : 22.11.2017 घोषणाक"तार"ख /Date Of Pronouncement

3) of the Act. 5. Assessee’s Appeal: Assessment year 2008-09 & 2011-12: Ground No.2(i) : Exclusion of brought forward losses and carry forward depreciation from the profit of the assessee & ITA No.17/Mds/2017 company while arriving at the eligible profit for granting deduction U/s. 10B of the Act:- While computing the eligible profit for granting deduction U/s.10B

ACIT, CHENNAI vs. M/S. TVS MOTOR COMPANY LIMITED, CHENNAI

In the result, appeal of the revenue is dismissed

Bench: S/Shri Shri Chandra Mohan Garg, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaassessment Year : 2008-09 The The Asst. Asst. Commissioner Commissioner Of Of Vs. M/S. Tvs Motor Company Ltd., M/S. Tvs Motor Company Ltd., Income Tax, Company Circle Income Tax, Company Circle- Jayalakshmi Estates, 29 (Old Jayalakshmi Estates, 29 (Old Iii(2), New Block, 4Th Floor, 121, Iii(2), New Block, 4 No.8), Haddows Road, Chennai No.8), Haddows Road, Chennai Mahatma Mahatma Gandhi Gandhi Road, Road, Nungambakkam, Chennai Nungambakkam, Chennai Pan/Gir No.Aaacs 7032 B Aaacs 7032 B (Appellant) (Appellant .. ( Respondent Respondent) Assessee By : Shri Vikram Vijayaraghavan, Vikram Vijayaraghavan, Ar Revenue By : Dr. S.Palanikumar, Cit ( Cit (Dr) Date Of Hearing : 24 /2/ 2022 2 Date Of Pronouncement : 13/4/20 /2022 O R D E R Per C.M.Garg, Jm , Jm

depreciation etc. commencing from the year 2001-02 on completion of the period of tax holiday also virtually works as a deduction which has to be worked out at a future point of time, namely, after the expiry of period of tax holiday. The absence of any reference to deduction under Section 10A in Chapter

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED, CHENNAI

depreciation etc.\ncommencing from the year 2001-02 on completion of the period\nof tax holiday also virtually works as a deduction which has to be\nworked out at a future point of time, namely, after the expiry of\nperiod of tax holiday. The absence of any reference to deduction\nunder Section 10A in Chapter

COGNIZANT TECHNOLOGY SOLUTIONS INDIA PRIVATE LIMITED,CHENNAI vs. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(1), CHENNAI

depreciation at 60%. Unrealized gains on mutual funds were not added to income. Disallowance for book profits under Section 115JB was deleted. Penalty proceedings were kept open.", "result": "Partly Allowed", "sections": [ "14A", "8D", "40(a)(i)", "9(1)(vii)", "10A", "10AA", "115JB", "195", "271(1)(c)", "274", "10(35)", "10(38)", "12(3

ACIT CORPORATE CIRCLE 3(1), CHENNAI vs. TENNECO AUTOMATIVE INDIA PRIVATE LIMITED, CHENNAI

In the result, appeal of the Revenue is dismissed

Bench: Shri N.R.S. Ganesan & Shri A.Mohan Alankamonyआयकर अपील सं./I.T.A.No.3226/Chny/2017 (िनधा"रण वष" / Assessment Year: 2010-11) The Acit, Vs M/S. Tenneco Automotive India Corporate Circle 3(1), Pvt. Ltd., Tidel Park, Di South, 9Th Floor, Chennai – 34. 4, Canal Road, Taramani, Chennai – 600 113. Pan: Aabct3125D (अपीलाथ"/Appellant) (""यथ"/Respondent)

depreciation, etc., commencing from the year 2001-02 on completion of the period of tax holiday also virtually work as a deduction which has to be worked out at a future point of time, namely, after the expiry of the period of tax holiday. The absence of any reference in Chapter VI of the Act to deduction under section 10A