M/S. HAVELLS INDIA LTD.,NEW DELHI vs. ACIT, NEW DELHI

The appeal of the assessee is partly allowed for statistical purpose

Bench: Shri Anil Chaturvedi & Ms Suchitra Kamble(Through Video Conferencing) Vs Havells India Ltd. Acit 1, Raj Narian Marg, Ltu Civil Lines New Delhi New Delhi Aaach0351E (Respondent) (Appellant)

depreciation. The aforesaid view is fortified by the following observations of the Hon’ble Bombay High Court in the case of Synco Industries (supra). On perusal of the aforesaid, the Ld. AR pointed out that the Hon’ble High Court observed that the non-obstante clause in sub-section (6) of Section 80I

M/S. SGS TEKNIKS PVT. LTD,NEW DELHI vs. DCIT, NEW DELHI

In the result, both the appeal of the assessee and the appeal of the revenue

Bench: Shri N.K. Saini & Shri A.T. Varkey

section 80I. 10. We have heard both the sides and perused the material on record. Before discussing the aforesaid issues, we need to first see whether to admit the additional evidence filed in the Form of 10CCB. We find that the assessee has two units i.e. Gurgaon and Baddi. Admittedly, the Gurgaon unit claimed deduction u/s 80I for the 10th

ACIT, NEW DELHI vs. M/S SGS TEKNIKS PVT. LTD.,, NEW DELHI

In the result, both the appeal of the assessee and the appeal of the revenue

Bench: Shri N.K. Saini & Shri A.T. Varkey

section 80I. 10. We have heard both the sides and perused the material on record. Before discussing the aforesaid issues, we need to first see whether to admit the additional evidence filed in the Form of 10CCB. We find that the assessee has two units i.e. Gurgaon and Baddi. Admittedly, the Gurgaon unit claimed deduction u/s 80I for the 10th

CIT vs. TEI TECHNOLOGIES PVT LTD

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

depreciation and losses of the unit, the income from which was not eligible for deduction under Section 10A cannot be set off against the current profit of the eligible unit for computing the deduction under Section 10A. Referring to its earlier judgment in the case of Hindustan Unilever Ltd. (supra) it was held as under: - “2. Section

CIT vs. TEI TECHNOLOGIES PVT LTD

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

depreciation and losses of the unit, the income from which was not eligible for deduction under Section 10A cannot be set off against the current profit of the eligible unit for computing the deduction under Section 10A. Referring to its earlier judgment in the case of Hindustan Unilever Ltd. (supra) it was held as under: - “2. Section

COMMISSIONER OF INCOME TAX DEL vs. TONY ELELCTRONICS LTD.

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE R.K.GAUBA

Section 80HH in respect of Namoli Unit and 80I in respect of Malanpur Unit were admissible (common to ITA Nos.220/2007 & 232/2007)? 2. Did the ITAT err in regard to the assessee’s depreciation

ACIT (LTU), NEW DELHI vs. M/S HAVELLS INDIA LTD., NEW DELHI

In the result, appeal of the assessee is partly allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishihavells India Ltd, Vs. Dcit, 1/7 Ram Kishore Road, Circle-12(1), Civil Lines, New Delhi Cr Building Ip Estate, Pan: Aaach0351E New Delhi (Appellant) (Respondent) Havells India Ltd, Vs. Dcit, 1/7 Ram Kishore Road, Ltu, Nbcc Plaza, Civil Lines, New Delhi Pusp Vihar, Sector-4, Saket, Pan: Aaach0351E New Delhi (Appellant) (Respondent) Acit (Ltu), Vs. Havells India Ltd, Nbcc Plaza, Pusp Vihar, Sector- 1/7 Ram Kishore Road, 4, Saket, New Delhi Civil Lines, New Delhi Pan: Aaach0351E (Appellant) (Respondent)

depreciation. In view of this ground number [2] of the appeal of the assessee is dismissed. 30. Ground number [3] of the appeal of the assessee is against the order of the learned CIT – A in not allowing the interest income earned amounting to ₹ 44,41,951 as part of the business income claimed by the appellant company. The learned

M/S HAVELLS INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal of the assessee is partly allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishihavells India Ltd, Vs. Dcit, 1/7 Ram Kishore Road, Circle-12(1), Civil Lines, New Delhi Cr Building Ip Estate, Pan: Aaach0351E New Delhi (Appellant) (Respondent) Havells India Ltd, Vs. Dcit, 1/7 Ram Kishore Road, Ltu, Nbcc Plaza, Civil Lines, New Delhi Pusp Vihar, Sector-4, Saket, Pan: Aaach0351E New Delhi (Appellant) (Respondent) Acit (Ltu), Vs. Havells India Ltd, Nbcc Plaza, Pusp Vihar, Sector- 1/7 Ram Kishore Road, 4, Saket, New Delhi Civil Lines, New Delhi Pan: Aaach0351E (Appellant) (Respondent)

depreciation. In view of this ground number [2] of the appeal of the assessee is dismissed. 30. Ground number [3] of the appeal of the assessee is against the order of the learned CIT – A in not allowing the interest income earned amounting to ₹ 44,41,951 as part of the business income claimed by the appellant company. The learned

M/S HAVELLS INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal of the assessee is partly allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishihavells India Ltd, Vs. Dcit, 1/7 Ram Kishore Road, Circle-12(1), Civil Lines, New Delhi Cr Building Ip Estate, Pan: Aaach0351E New Delhi (Appellant) (Respondent) Havells India Ltd, Vs. Dcit, 1/7 Ram Kishore Road, Ltu, Nbcc Plaza, Civil Lines, New Delhi Pusp Vihar, Sector-4, Saket, Pan: Aaach0351E New Delhi (Appellant) (Respondent) Acit (Ltu), Vs. Havells India Ltd, Nbcc Plaza, Pusp Vihar, Sector- 1/7 Ram Kishore Road, 4, Saket, New Delhi Civil Lines, New Delhi Pan: Aaach0351E (Appellant) (Respondent)

depreciation. In view of this ground number [2] of the appeal of the assessee is dismissed. 30. Ground number [3] of the appeal of the assessee is against the order of the learned CIT – A in not allowing the interest income earned amounting to ₹ 44,41,951 as part of the business income claimed by the appellant company. The learned

COMMISSIONER OF INCOME TAX

depreciation on guest house when the same is clearly disallowable u/s 37(4) of the Act? (B) Whether ITAT is correct in confirming the order of CIT(A) and thereby allowing the expenditure of Rs.1,88,610/- incurred by the assessee on rent and repairs of the Guest House when the same is clearly disallowable

CONTROLA & SWITCHGEAR CO LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

Accordingly we are not inclined to admit the appeal. The same is dismissed

80I, 80IA and 80IB have a common scheme and if so read it is clear that the said Sections provide for incentives in the form of deduction(s) which are linked to profits and not to investment. On analysis of Sections 80IA and 80IB, it becomes clear that any industrial undertaking, which becomes eligible on satisfying Sub-section(2), would

CIT vs. KRIBHCO

80I, 80HHC is allowed on the net amount of income, i.e., gross income less the expenditure incurred to earn the said income. 14. Section 80A(1) states that in computing total income an assessee will be allowed on the gross total income in accordance and subject to the provisions of the Chapter, deductions specified in Section

COMMISSIONER OF INCOME TAX

80I, 80HHC is allowed on the net amount of income, i.e., gross income less the expenditure incurred to earn the said income. 14. Section 80A(1) states that in computing total income an assessee will be allowed on the gross total income in accordance and subject to the provisions of the Chapter, deductions specified in Section

PREXUS HEALTH INDIA (P) LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri S.V. Mehrotraassessment Year : 2011-12 Prexus Health India (P) Ltd., Acit, Circle- 20(1), Ra-4 (Shop), Inder Puri, New Delhi. Vs. New Delhi – 110 012. Pan : Aadcp 7893 A (Appellant) (Respondent)

depreciation and losses of the unit the Income which is not eligible for deduction under s.10A of the Act cannot be set off against the current profit of the eligible unit for computing the deduction under s.10A of the IT Act.” 28. The said proposition of law has further been applied by the Hon’ble Bombay High Court

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

depreciation allowance or development rebate remain unabsorbed, then nothing could be deducted in respect of the set off while determining the deduction u/s 80I of the Act. 26. With regard to the deduction, we are guided by the provisions of Section

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

depreciation allowance or development rebate remain unabsorbed, then nothing could be deducted in respect of the set off while determining the deduction u/s 80I of the Act. 26. With regard to the deduction, we are guided by the provisions of Section

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

depreciation allowance or development rebate remain unabsorbed, then nothing could be deducted in respect of the set off while determining the deduction u/s 80I of the Act. 26. With regard to the deduction, we are guided by the provisions of Section

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

depreciation allowance or development rebate remain unabsorbed, then nothing could be deducted in respect of the set off while determining the deduction u/s 80I of the Act. 26. With regard to the deduction, we are guided by the provisions of Section