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2013 (5) TMI 88 - HC - Income TaxEligibility for deduction u/s.80IB on the disallowance made u/s.40(a)(ia) - ITAT allowed the claim - Held that:- AO has wrongly disallowed the deduction u/s 80-IB stating that deduction u/s 80-IB was not allowable as the disallowance was made on technical ground because this does not form part of the business profits as the profit has already been determined as per P&L Account. Tribunal committed no error in considering assessee eligible for deduction u/s 80-IB on the profits worked out after including therein the disallowance of Rs.24,45,367/- made by the AO u/s 40(a)(ia) - Against revenue.
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