facts and in law in partly disallowing claim of
deduction under section 80IC to the extent of
Rs.1,87,74,679 by reducing profits ... units by applying the provisions of section
80IA(8) read with section 80IC(7) of the Act.
2.3 Without prejudice that the TPO erred
follows:-
Ground No. 1(Deleting the disallowance of deduction u/s. 80IC under
the head interest and financial charges, common expenses of corporate
expenses ... lacs to the Baddi Unit while calculating deduction u/s.
80IC of the Act. During the course of assessment, the Assessing Officer
noticed that assessee
claim of deduction u/s.80IC as made by
the appellant deserves to be accepted. Consequently the deduction u/s.80IC as claimed ... completed by making disallowance of Rs.3,86,53,415/-
u/s. 80IC of the Act and assessing income
machinery in F Y in F Y
2010-11(First year of 80IC claim) has to be compared with
machinery available ... limit of 20% transferred in machinery at
the time of formation of 80IC eligible unit, as AO has done and
correctly disallowed 80IC claim
case.
2.1 The CIT(A) erred in allowing the deduction u/s.80IC and
holding that the expenditure on sales promotion and advertisement
and publicity ... declaring 'nil' total
income after claiming deduction u/s.80IC of the Income Tax Act,
5 I.T.A. Nos.3537 & 3345
2016 dated 02.11.2016 contended that
benefit of deduction u/s 80IC is admissible on profits
enhanced by disallowance made ... assessee is entitled to claim
benefit of statutory deductions u/s 80IC on additional
income arising from disallowance of claim of
depreciation
vide Notification No. SO1269(E) dated
04.11.2003 for the purpose of section 80IC of the Income-tax Act,
1961 (for short ... addition of
Rs.3,85,61,355/- while making disallowance under section 80IC of
the Act by restricting the same to 25% instead
facts and in law in partly disallowing
claim of deduction under section 80IC to the extent of
Rs.2,20,89,180 by reducing profits ... units by applying the provisions of section
80IA(8) read with section 80IC(7) of the Act. f
2.3 Without prejudice that the TPO erred
Assessing Officer raised specific queries
with regard to the claim of section 80IC of the Act, which was
duly responded by the assessee ... assessment was
completed after reducing the claim under section 80IC of the Act.
Subsequently, the Assessing Officer reopened the assessment on
the ground that excess
business of the industrial undertaking
while computing deduction under Section 80IC of the Act.
The Appellant prays that 25% of the income from Scrap Sales ... revising the
profit from the Baddi unit eligible for deduction under Section 80IC of the
Act by the amount of Advertising, Marketing and Promotion expenditure
