SRINIVASA FASHIONS PVT LTD.,CHENNAI vs. DCIT, CHENNAI
In the result, the assessee’s appeals in ITA Nos 1965, 1966 & 1967 are
ITA 1966/CHNY/2016[2008-09]Status: DisposedITAT Chennai30 Nov 2017AY 2008-09
Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं/.I.T.A. Nos. 1965, 1966, 1967, 1968 /Mds/2016 & 2096/Mds/2017 "नधा"रण वष"/Assessment Years : 2008-09, 2008-09, 2010-11, 2011-12& 2009-10 M/S. Srinivasa Fashions Pvt. Ltd., Deputy Commissioner Of Income Tax, 1A, Regency Apartments, Vs. Corporate Circle -6(2), No. 5, 1St Lane, Aayakar Bhavan, New Block, 7Th Floor, 121 M.G. Road, Nungambakkam High Road, Chennai - 600 034. Chennai - 600 034. [Pan: Aaics 9511R]
For Appellant: ShriT. Banusekar, CAFor Respondent: Shri S. Bharath, CIT
Section 10ASection 143(3)Section 148Section 32(1)(ii)Section 47
68,22,748/-. Combined profit of two units is Rs.2,22,65,415/-
itself proves that the assessee's contention is wrong. The AO observed that
consequently in DTA unit, whose income is chargeable to income tax but it
does not have any deduction/exemption benefit u/s 10AA , consequently
huge artificial losses are created by deliberately keeping the processing
charges charged