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2013 (5) TMI 44 - HC - Income TaxRevision u/s 263 of the Act - AO Allowed deduction U/s 10B on the business income without setting-off unabsorbed depreciation amount - The Commissioner of Income tax in his jurisdiction under Section 263 of the Income Tax Act was of the view that the same resulted in excess deduction allowed under Section 10B of the Act and incorrect determination of loss was carried forward. - The Tribunal held that Assessing Officer had adopted one of the permissible views and such an order cannot be said to be erroneous in view of the decision of the Apex Court in the case of Malabar Industrial Company Ltd., V/s. CIT [2000 (2) TMI 10 - SUPREME Court] - Held that:- following the decision in Commissioner of Income Tax, LTU, V/s. M/s. Yokogawa India Ltd., [2011 (8) TMI 845 - Karnataka High Court] and in view of the fact that no substantial question of law arises for consideration in this appeal, the additional question with regard to the jurisdiction under Section 263 of the Revisional Authority becomes purely academic and therefore, that question is not answered. - Decided against the revenue.
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