make the
respondent(s)-assessee(s) entitled to the benefit of
Section 80IA of the Income Tax Act, 1961, as it stood at
the material ... quote herein-below the relevant provisions of
Section 2(29BA) as also the relevant provisions of
Section 80IA(2)(iii) of the Income
need to reproduce
relevant provisions of Sections 80IA(1) , 80IA(12)(b) as also
Explanation to Section 33B of the Income ... Explanation to Section
33B ;"
Explanation to Section 33B
"Explanation: In this section, "industrial
undertaking" means any undertaking which is mainly
engaged
document. Reason one pertains to
the non-eligibility of deduction under Section 80IA in respect of the steam
turbine of the combined cycle gas power ... assessment year 1998-99 and
1999-2000 and the deduction under Section 80IA was re-worked by
taking a part of the fuel cost against
Section 80HHC that sub-section (9)
37
to Section 80I has come up for interpretation. There is no
dispute that sub-section (9) to Section ... total income computed under
sub-section (5) to Section 80B read with Section 80AB less the
deduction under Section 80IA . An example will make position
Section
80IB to the extent of Rs 3,04,15,236/- was not reduced in terms of Section
80IB(13) read with Section 80IA ... into the question of
applicability of the provisions of sub-section (9) of Section 80IA and
deciding as to which view was sustainable
Section 80 IA of the Act. This question
revolves around the interpretation which is to be given to sub-Section
(9) of Section 80IA ... Sec. 80IB (13) states that the provisions of sub-sec.
(9) to Sec. 80IA shall, so far as may be, apply to
the eligible business
deduction under Section
80HHC is defined in clause (baa) of Section 80HHC . If the legislature
intended that the deduction allowed under Section 80IA ... affects whole of Section 80HHC and it cannot be said that even
though Section 80HHC is subject to Section 80IA(9) , the manner of
computation
penalty levied u/s 271
(1) (c) of the Income Tax Act, 1961?
3. The respondent assessees had claimed deduction under
Section 80IA ... Assessing Officer, who also
relied on Explanation to sub- Section 13 of Section 80IA of the
Act which stipulates that the Section 80IA
section (13) of Section 80IB provides that the provisions contained in sub-section (5) and sub-sections (7) to (12) of Section 80IA shall ... eligible business under this section.
The provision of Section 80IB(1) and sub-section (7) of Section 80IA of the Act are reproduced below
been done in the total disregard of provision of Sub- section 7 of Section 80IA of the Act. The learned Counsel in support ... loss of Rs. 9,11,270/-. Provision of Sub- section 7 of Section 80IA of the Act which is relevant in this case, is reproduced
