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2012 (7) TMI 185 - AT - Income TaxComputation of deduction u/s 10A - AO excluded the interest income,disposal of assets and miscellaneous income from the profit of business - Held that:- Regarding profit on disposal of assets and interest on bank deposit in the computation of income these incomes were already reduced by assessee for calculation of exempt income, therefore, these cannot be reduced again As regards misc. income AO had not given any finding about the nature of income credited under the head misc. income as the inclusion or exclusion of misc. income in the exempt income u/s 10A will depend upon the nature of misc. income - remit the case to the file of AO on this point to first give a finding on the nature of misc. income and allow it accordingly as per law - partly in favour of assessee.
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