Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (3) TMI 793 - AT - Income TaxDenying the deduction u/s 10B with respect to interest income - Held that:- As decided in the case of Hewlett Packard Global Soft Ltd.[2017 (11) TMI 205 - KARNATAKA HIGH COURT] we decide first ground of appeal in favour of the assessee holding that the AO should not have denied the deduction under section 10 B of the Act in respect of interest income of ₹ 9. 81 lakhs and from business deposits pertaining to EOU of the assessee.- Decided against revenue Disallowance of claims regarding deduction u/s 43B, deduction about excise duty, other expenses and claim for set off of unabsorbed depreciation - Held that:- FAA has directed the AO to allow the claim/reductions after making verification. In our opinion, his order does not suffer from any legal infirmity. The AO is directed to give effect to the order of the FAA within a period of three months of receipt of our order.
|