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2016 (9) TMI 1331 - AT - Income TaxDeduction under section 10B - Held that:- The issue was set aside to the AO to find out whether the assessee has earned profit on sale of outsourced items and claimed deduction under section 10B of the Act. The profit derived by an assessee on self-manufactured item was considered to be eligible for deduction under section 10B of the Act. No such circumstances are there in the present appeals. Therefore, in our opinion, the ld.CIT(A) has erred in allowing deduction to the assessee in both these years. We set aside order of the ld.CIT(A) and restore that of the AO on this issue. The assessee is not entitled for any deduction under section 10B in these assessment years, then, whether this claim of interest income is admissible or not, would be altogether an irrelevant issue. The assessee is not entitled for the deduction under section 10B of the Act, because at threshold, ten years have already been expired. In view of the above discussion, both the appeals of the Revenue are allowed.
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