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2012 (10) TMI 360 - AT - Income TaxClaim of deduction u/s 10-B - re computation by allocating proportionate Managing Director's remuneration debited to non-eligible units of the assessee company to the eligible unit - Held that:- Under the provisions of section 10B the deduction is to be allowed on such profits & gains of business which are derived by 100% export oriented undertaking and in order to determine the profits & gains of the eligible units, all expenditure relatable to such units are to be deducted for computing the eligible profits. The remuneration paid to the Managing Director being common expenditure between the eligible units and the non-eligible unit run by the assessee company need to be allocated in order to determine the eligible profits of business under section 10B - against assessee.
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