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2010 (9) TMI 1101 - AT - Income TaxDisallowance u/s 36(1)(va) r.w.s. 2(24)(x) - profits eligible for deduction u/s10A - In present case, The CIT(A) held that in respect of payment made within the grace period of 5 days the addition made by the AO has to be deleted. Aggrieved by the order of the CIT(A) the assessee has preferred the present appeal before the Tribunal. HELD THAT:- Following the decision in the case of CIT vs. AIMIL Limited [2009 (12) TMI 38 - DELHI HIGH COURT], the assessee is entitled to claim the deduction even in respect of a sum of ₹ 6,07,000/-, which disallowance was sustained by the CIT(A). Even the contention that the disallowance even if sustained will only go to increase the business profits of the assessee which is exempt u/s 10A as laid down in the case of Gemplus Jewellery India Ltd.[2010 (6) TMI 65 - BOMBAY HIGH COURT] is acceptable. We, therefore, direct that the addition sustained by the CIT(A) be deleted. In the result, the appeal of the assessee is allowed.
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