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H E G Limited, vs Assessee on 30 January, 2012 cites

Textile Machinery Corporation ... vs The Commissioner Of Income-Tax, West ... on 25 January, 1977

respect of the profits of its power divisions at Durg and Tawa. The Assessing officer was not justified in holding that deduction u/s 80lA has been wrongly claimed in respect of-power divisions for transfer of power to the manufacturing units of the appellant. Therefore, the contention of the Assessing officer that appellant had claimed sale and purchase between the two limbs of the same legal person which is legally inappropriate, is contrary to the provisions of section 80lA of the IT Act. I find that there is no dispute that the power plants are separate industrial undertakings. There is also no dispute that the appellant maintained separate books of account for each of the power plant, which was duly audited. The case of the appellant is fully supported by the decision of the Hon'ble Supreme Court in the case of Textile Machinery Corp. Ltd. vs. CIT 107 ITR 195.
Supreme Court of India Cites 12 - Cited by 279 - P K Goswami - Full Document
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