Issues in Corporate Taxation. - jb nagar cpe study circle of wirc of icai

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Facts & Background • Assessee is a company engaged in the business of development and export of computer software • Assessee had claimed deduction under section 10A for its three units at Chinchwad, Akruti and Milennium Business Park in its ROI ; • Assessing Officer (AO) • Treated these units as mere expansion of existing units (i.e Software and Conversion Unit, Sigma Unit and TTC Unit) on the basis of approval letter received from STPI; • Profitability of the aforesaid units is to be combined with the corresponding old units; and • Concluded that the eligible period for these units would be reckoned from the first year of the eligibility of the corresponding old units August, 2011 CA Sanjeev Lalan, Singrodia Goyal & Co. Presentation at JB Nagar CPE Study Circle 24
CIT (Appeal)’s observations and decision • All the three units are independent and distinct units • All the units have their own plant and machinery having substantial investment, substantial turnover and located in different premises • Relied upon test laid down the decision of Apex Court of Textile Machinery corporation for testing the splitting up/ reconstruction condition – “whether it is identifiable undertaking separate and distinct from the existing business” August, 2011 CA Sanjeev Lalan, Singrodia Goyal & Co. Presentation at JB Nagar CPE Study Circle 25
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Page 5 and 6: Contents 1. CIT vs Parle Plastics L
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Page 11 and 12: Timken Co.,In re [2010] 193 Taxman
Page 13 and 14: Arguments Assessee’s arguments Th
Page 15 and 16: AAR ruling (f) (g) As the applicant
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Page 21 and 22: Tribunal’s observations and decis
Page 23: JCIT vs. Patni Computer Systems (P)
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Page 31 and 32: Issues before the Tribunal • Whet
Page 33 and 34: Contentions of the assessee • The
Page 35 and 36: Questions ?? August, 2011 CA Sanjee

Issues in Corporate Taxation. - jb nagar cpe study circle of wirc of icai

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