Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2010 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (1) TMI 892 - AT - Income TaxExemption under section 10A - assessee appealed that the action of AO in not reworking the profit eligible under section 10A of the Act equal to 100% profits from eligible business as worked out by him but restricting the deduction to Rs. 2,10,16,417/- as claimed by the assessee on the basis of profits from eligible business in Form 56F certified by the Auditors. Ld. CIT(A) referred to the provision of section 10A and directed the AO to allow 100% of exemption from eligible business on the basis of business income on the eligible business - Held that:- assessee is claiming exemption under section 10A and assessee's profit from eligible business by the AO is recomputed the deduction under section 10A is also to be allowed on the recomputed profit under section 10A, no infirmity or illegality in the order of the ld. CIT(A) in this regard. Accordingly, we confirm the same, revenue's appeal is partly allowed for statistical purposes.
|