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2013 (8) TMI 280 - AT - Income TaxDeduction u/s 80IC - higher profit - purchase of some of the components from outside - Held that:- pursuance of remand report shows that all the details were furnished before the Assessing Officer on 28.3.2011 and the books of account along with vouchers were also produced before him. It has been specified at para 6 of the remand report that books of accounts of Nathu Plasi, Nalagarh were verified that separate books of account have been maintained. Only objection which he has raised regarding denial of deduction that some of the components have been purchased from outside and the profit of the eligible unit are on higher side - it was not denied that the assessee was manufacturing the transformers and some components were purchased from the market. It cannot be accepted that the assessee should be manufacturing all the components. Further merely showing that that the profits are on higher side, is not sufficient and no defects are pointed out and therefore deduction cannot be denied - Decided against Revenue.
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