Set back to TATA Sponge: ITAT disallows Income Tax Deduction u/s 80 IA as Income from Eligible unit Not shown in Gross Total Income [Read Order]

TATA Sponge - ITAT - Deduction - Income - Gross Total Income - taxscan

The Cuttack Bench of Income Tax Appellate Tribunal ( ITAT ) has disallowed deduction u/s 80 IA since income from eligible unit not shown in gross total income. The appellant, Tata Sponge IronLimited, is engaged in the business of manufacturing and sale of sponge iron.It has also installed a power plant to produce LCD basing…

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