Case Law Details
Alliance India Vs DCIT (ITAT Chandigarh)
ITAT had decided the issue in favour of the assessee holding that no netting of profits and losses of the eligible units was to be done for the purpose of calculating the deduction under section 80-IC of the Act and each unit for the said purpose had to be treated separately.
FULL TEXT OF THE ITAT JUDGEMENT
All the above appeals have been preferred by the same assessee against the separate orders of the Commissioner of Income Tax (Appeals), Faridabad, (in short ‘CIT(A)’ dated 2.11.2016, 2.11.2016 and 1.11.2016 pertaining to assessment years 2010-11, 2011-12 and 2012-13 respectively, passed u/s 250(6) of the Income Tax Act,1961 (hereinafter referred to as “Act”)
It was common ground that the issue involved in all the appeals was identical, therefore, these were all heard together and are being disposed off by this common, consolidated order for the sake of convenience.
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