Commissioner Of Income Tax 7 vs Navi Mumbai Sez Pvt Ltd on 26 August, 2022
Bench: Dhiraj Singh Thakur , Abhay Ahuja
IN THE HIGH COURT ... Commissioner Of Income Tax 7 ....APPELLANTS
V/S
Navi Mumbai Sez Pvt Ltd ....RESPONDENT
CORAM : HON'BLE SHRI JUSTICE DHIRAJ SINGH
THAKUR
regarding deduction under section 10AA of the Act in respect of SEZ
units of the assessee which commenced its operations during earlier years ... relevant assessment year is the fifth year of deduction claimed on SEZ
units under section 10AA of the Act. During the relevant assessment year
time from today either:-
(a) to seek and obtain approval as
a SEZ compliant Unit from the
competent authority under the SEZ
Act in respect ... Warehouse facility
situated in 34 acres of land in
question within SEZ Area developed
by Respondent – APSEZL;
or
(b) to obtain a waiver
Industry,
Udyog Bhavan, New Delhi 110 107.
2. The Additional Secretary, SEZ Division,
Department of Commerce,
Ministry of Commerce & Industry,
Room No. 35, Udyog ... Free Trade and
Warehousing Zone (FTWZ) in Sri City Multi-Product SEZ/FTWZ,
Chittor District, Satyavedu Mandal, Andhra Pradesh (for short "the
FTWZ unit
assessee company made a sales of
Rs.69,80,96,800/- through SEZ-Unit -IV to UNICEF which is a
United Nation (UN) program headquartered
holding that
i) the appellant had artificially inflated the profits of
eligible SEZ units by making voluntary adjustments.
ii) the appellant had failed to substantiate ... holding that the appellant
has not apportioned various general expenses incurred to
SEZ unit, thereby inflated the profit of the eligible unit and
the learned
three sources
of income as under:
Income from manufacturing activity in SEZ Zone. ...Rs.6,05,38,408/-
Income from Trading activity in SEZ Zone ... Interest Income from Fixed Deposits in SEZ treated as Business income.
... (-28, 75,133/-)
Gross FD interest 1,04,24,585
Less forward premium
Gaekwad
2/57 WP-2003-2009.doc
and 39 SDS-II, SEEPZ, SEZ, Andheri (East), ) ....Petitioner
Mumbai - 400 096 )
V/s.
1. Union of India ... Unit Nos.G-19 )
& 22, G & J Complex II, SEEPZ, SEZ, Andheri )
(East), Mumbai - 400 096 ) ....Petitioner
V/s.
1. Union of India
Gaekwad
2/57 WP-2003-2009.doc
and 39 SDS-II, SEEPZ, SEZ, Andheri (East), ) ....Petitioner
Mumbai - 400 096 )
V/s.
1. Union of India ... Unit Nos.G-19 )
& 22, G & J Complex II, SEEPZ, SEZ, Andheri )
(East), Mumbai - 400 096 ) ....Petitioner
V/s.
1. Union of India
Gaekwad
2/57 WP-2003-2009.doc
and 39 SDS-II, SEEPZ, SEZ, Andheri (East), ) ....Petitioner
Mumbai - 400 096 )
V/s.
1. Union of India ... Unit Nos.G-19 )
& 22, G & J Complex II, SEEPZ, SEZ, Andheri )
(East), Mumbai - 400 096 ) ....Petitioner
V/s.
1. Union of India
