Notwithstanding anything to the contrary contained in section
10A or section 10AA or section 10B or section 10BA or in any provisions
of this Chapter ... terms of sec. 80IB of the
Act.sec. 80IB (13) of the Act provides that the provisions of sec. 80IA(5) shall
apply and under
book profit u/s 115 JB of the Act
for Rs. 14,60,94,940/-. The assessee is claiming deduction under section 80IA ... necessarily required to
claim deduction for full ten consecutive years under section 80IA of the Act,
beginning from the assessment year in which the Appellant
80IA(8) of the Act since the said section is relevant in the
present case Sec. 80IA(8) reads as follows:
"Where any goods ... ordinarily fetch in the open market. The proviso to sub-
section(8) of section 80IA would come into operation only'
when in the opinion
number of years specified in Sub-section (6).
20. Sub-section (7) of Section 80IA of the Act reads as under:
(7) Notwithstanding anything contained ... Under this section the deduction is to eligible business, as defined in Sub-section (4) thereof.
22. Sub-section (5) of Section 80IA
place and, hence, it will not be
impacted by sub-section (12A) of Section 80IA of the I.T. Act, 1961. We do not
agree ... taken place after 31.03.2007, the provisions of sub-section (12) of the
Section 80IA will not apply. Deduction claimed by the assessee u/s 80IA
clause (a) of clause (1) of sub section (4) of Section 80IA of
the Act refer to the enterprise. By reading of the section ... eligible developer for making claim of
deduction u/s section 80IA (4) of the Act. From the above, it is evident that the
person
under section 143(3) read with
section 263 of the Income Tax Act, 1961 whereby and whereunder the claim
of deduction under section 80IA ... even after the Explanation inserted after sub- section 13 of
section 80IA of the Act by the Finance
with regard to computation of deduction Under Section 80HHC after reducing deduction Under Section 80IA of the Act in view of the provisions of Section ... assessee submitted that there is no restriction in Section 80HHC that the deduction Under Section 80IA should be reduced before allowing deduction Under Section 80HHC
that year under the special provisions of Section 115JB and reduction in claim of deduction under Section 80IA, therefore, did not have any adverse financial ... supra) was in the context of Section 80HHC, the principle laid down therein shall also apply to Section 80IA. He contended that this matter, therefore
derived from the business of power generation undertaking
and therefore deduction u/s 80IA is not allowable on such receipts ... mining activity and wind
power generation activity for allowing deduction u/s 80IA on the
income from generation of power ignoring the fact and expenditure
