{"id":4176,"date":"2019-03-05T06:43:24","date_gmt":"2019-03-05T06:43:24","guid":{"rendered":"http:\/\/itatonline.org\/digest\/milestone-gears-p-ltd-v-acit-2019-174-itd-702-chd-trib\/"},"modified":"2019-05-05T10:08:03","modified_gmt":"2019-05-05T10:08:03","slug":"milestone-gears-p-ltd-v-acit-2019-174-itd-702-chd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/milestone-gears-p-ltd-v-acit-2019-174-itd-702-chd-trib\/","title":{"rendered":"Milestone Gears (P.) Ltd.  v. ACIT (2019) 174 ITD 702 \/ 176 DTR 59\/ 198 TTJ 870 (Chd.)   (Trib.)"},"content":{"rendered":"<p>Tribunal held that while calculating the deduction, profit on each undertaking has to be treated separately. Profits and losses of all eligible undertakings are not to be netted for purpose of calculating deduction. Each undertaking are to be taken on a stand-alone basis. Assessee\u00a0 availed deduction for a period of 5 years at rate of 100 per cent on substantial\u00a0 expansion, deduction for remaining 5 assessment years will be at rate of 30 per cent and not at rate of 100 per cent<strong>.<\/strong> (AY. 2010-11 to 2012-13)<strong>\u00a0 <\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 80IC : Special category  States-Profit on each undertaking has to be treated separately-Profits and losses of all eligible undertakings are not to be netted for purpose of calculating deduction \u2013 Each undertaking are to be taken on a stand-alone basis -Where the assessee  availed deduction for a period of 5 years at rate of 100 per cent on substantial  expansion , deduction for remaining 5 assessment years will be at rate of 30 per cent and not at rate of 100 per cent. [S. 80IC (2), 80IC(5), 80IC(7)]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4176","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-15m","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=4176"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4176\/revisions"}],"predecessor-version":[{"id":5353,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4176\/revisions\/5353"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=4176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=4176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=4176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}