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2014 (2) TMI 232 - AT - Income TaxDetermination of income – Held that:- CIT(A) erred in determining the gross receipts of the assessees @ 110% of the expenses, on the impression that the co-ordinate bench of Tribunal has taken an identical view - these assessees filed miscellaneous petitions pointing out that the co-ordinate bench of Tribunal set aside the matter to the file of the assessing officer with the direction to examine the issue - Assessments giving rise to the appeals filed by the Revenue were made based on advance ruling given by the Authority for Advance Ruling constituted under the Income Tax Act holding that respondent's operations in India attract tax under the Income Tax Act - The order of the CIT(A) set aside and the matter remitted back to the AO for fresh adjudication – Decided in favour of Assessee.
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