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2014 (7) TMI 1199 - HC - Income TaxDeduction under Section 80-IA - revision u/s 263 - Whether the Tribunal was correct in holding that the order of assessment computing deduction under Section 80-IA of the Act was neither erroneous nor prejudicial to the interest of the Revenue as percentage of expenditure adopted by the assessee from Bhuvaneshwar unit and Bangalore unit was permissible? - Held that:- Assessing Authority has taken into consideration all the details mentioned in the computation statement which is taken from the books of account maintained by the assessee and has recorded the finding. The Commissioner proceeds on the basis that the figures found in the calculation statement has no basis ignoring that these figures are taken from the books of account. In that view of the matter, the Tribunal was justified in setting aside the order passed by the Commissioner and restoring the order of the Assessing Authority. - Decided in favour of the assessee
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