DREDGING CORPORATION OF INDIA LTD,,VISAKHAPATNAM vs. DCIT, CIRCLE -3(1),, VISAKHAPATNAM
In the result, the appeals of the assessee as well as the revenue are dismissed
ITA 437/VIZ/2017[2012-2013]Status: DisposedITAT Visakhapatnam05 Oct 2018AY 2012-2013
Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.437/Viz/2017 (धििाारण िर्ा/ Assessment Year: 2012-2013) M/S Dredging Corporation Vs. Dcit Of India Ltd. Circle-3(1) Dredge House, Port Area Visakhapatnam Visakhapatnam [Pan : Aaacd6021B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.464/Viz/2017 (धििाारण िर्ा/ Assessment Year: 2012-2013) Acit Vs. M/S Dredging Corporation Circle-3(1) Of India Ltd. Visakhapatnam Dredge House, Port Area Visakhapatnam [Pan : Aaacd6021B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) निर्धाऩिती की ओि से/ Assessee By : Shri G.V.N.Hari, Ar िधजस्व की ओि से/ Revenue By : Shri Deba Kumar Sonowal, Dr सुिवधई की तधिीख / Date Of Hearing : 26.09.2018 05.10.2018 घोषणध की तधिीख/Date Of Pronouncement :
For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri Deba Kumar Sonowal, DR
Section 115VSection 5
gains for the purpose of industrial undertaking required to be computed as per the provisions of section 28 to 43C of I.T. Act and the deduction required to be allowed u/s 80IA of I.T. Act from the business income.
Whereas in the case of tonnage tax as provided u/s 115VI, the income required to be computed as per Chapter XIIG
