said
amount of capital expenditure was claimed as a deduction under Section
35AD of the Act. Thereafter, the case of the Petitioner was selected ... particular sought an explanation
as regards the claim of deduction under Section 35AD . In response, the
Petitioner filed various submissions before the Assessing Officer
Whether the assessee is entitled to claim
deduction under Section 35AD(v)(aa) for the
assessment year 2011-12 even though the
classification for three ... right on the part of the Tribunal to
grant deduction under Section 35AD(v)(aa)
especially when the assessee did not satisfy the
conditions stipulated
this connection, our attention has been invited to
Section 35AD of the Act, which contains a requirement
that the amount is to be capitalized ... assessee in order to enable him to claim
the benefit under Section 35AD of the Act. It is
contended that once the asset is acquired
passing of the assessment order, two issues, viz., allowance under Section 35AD claimed and disallowance under Section 14A alone were discussed and based on these ... dated 13.03.2015 had been passed by considering the issues covered by Section 35AD and Section 14A and no opinion was formed regarding the petitioner
petitioner appears to have availed the benefit of Section 35AD of the Income Tax
Act, 1961 claiming loss.
5.The survey however indicates that ... petitioner may not have been
entitled to the benefit of Section 35AD of the Income Tax Act, 1961. Thus, the
loss that was declared
registered
under the Companies Act, 1956 . The assessee claims
deduction under Section 35AD of the Act, of the entire
capital ... concluded rejecting the
claim of the petitioner for the deduction under Section
35AD of the Act. Aggrieved by the same, petitioner
preferred an appeal before
District Shri Ganganagar
14. Chandra Kala W/o Subhash Chandra, R/o 35AD, Masaniwala,
Panchayat 35AD, Tehsil Vijay Nagar, District Shri Ganganagar
15. Sushil Kumar ... Kumar, R/o 35AD Masaniwala,
Panchayat 35AD, Tehsil Vijay Nagar, District Shri Ganganagar
16. Prem Kumar S/o Chandu Ram, R/o 50GB, Panchayat
Section 35AC deals with
expenditure on eligible projects or schemes and section 35AD
deals with deduction in respect of expenditure on specified
business. We have
business referred to in
clause (c) of sub-section (8) of section 35AD for any
assessment year, no deduction shall be allowed under
the provisions ... section 35AD in relation to such
specified business for the same or any other assessment
year."
4. The "gross total income
Page 6 of 18
is allowable as a deduction under section 35AD, nil
; and
(c) in the case of other assets, the book value
