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2017 (9) TMI 1889 - AT - Income TaxDeduction u/s 10B in respect of management fee - contention of the assessee is that the management fee is part of export profit, therefore, eligible for deduction u/s 10B - whether management fee, which is in relation to export of valves, cannot be reduced from profit of the undertaking? - HELD THAT:- Claim is only in respect of management fee. The management fee is in connection with export of valves, therefore, in view of the judgment of Delhi High Court in Priviera Home Furnishing 2015 (11) TMI 1139 - DELHI HIGH COURT this Tribunal is of the considered opinion that the assessee is eligible for deduction under Section 10B of the Act. The management fee for the assessment years 2009-10 and 2010-11 respectively are eligible for deduction under Section 10B of the Act. Therefore, we are unable to uphold the orders of the lower authorities. Accordingly, the orders of both the authorities below are set aside and the Assessing Officer is directed to allow the claim of the assessee in respect of management fee under Section 10B - Appeals filed by the assessee are allowed.
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