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2012 (9) TMI 318 - AT - Income TaxDeduction u/s 80IC - dis-allowance - manufacturing of foundation anchor rods for windmills on its own behalf and on behalf of the third party - dis-allowance - Held that:- Issue stands covered by the order of the Tribunal in assessee's own case relating to AY 2005-06 wherein it was held that activity carried on by the assessee amounts to manufacture and the profits earned by the assessee from carrying on the manufacturing activity are eligible for the deduction u/s 80IC Addition made on account of technical knowhow charges taking the same as income of the assessee from undisclosed sources, not eligible for deduction u/s 80IC - Held that:- Issue raised in the present appeal is identical to the issue raised in the earlier years and following the same it is held that bifurcation in the income from business and income from undisclosed sources has been carried out by the AO only on presumptions, which have no basis. No merit in the said estimation of income from undisclosed sources. Deduction u/s 80IC is allowed - Decided in favor of assessee
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