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2011 (4) TMI 785 - AT - Income TaxDisallowance - Deduction u/s 80IA - Scince, old exchanges totally being revamped, most of which were non-operating and under discarded position - As the income generated through so many services being rendered by the new exchanges which is eligible for claim of deduction u/s 80IA, we cannot restrict the claim in respect of the nominal income if any generated out of the old exchanges - the matter is restored back to the file of the AO for recomputing the claim of deduction u/s 80IA with reference to 75% of the income being eligible for deduction, whereas balance 25% is not eligible for deduction in all the years under consideration. Disallowance u/s 43B - Regard to non-deposit of employees' contribution towards GPF was not pressed for by the learned counsel for the assessee - Hence, the same stands dismissed.
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