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2018 (6) TMI 51 - AT - Income TaxDenial of claim of deduction u/s 10B - eligibility as busniss income - incomes on account of duty drawback, exchange rate fluctuation and sales tax refund - Held that:- Pertinently, in so far as the incomes on account of duty drawback, exchange rate fluctuation and sales tax refund are concerned, there is no dispute that the same has been treated by the Assessing Officer as "business income". The said aspect is clearly emerging from the assessment order. Thus as AO accepts the aforesaid three elements of income as forming part of the "business income" of the assessee's eligible undertaking, the same cannot be excluded for the purpose of computing deduction under section 10B of the Act. SEE Maral Overseas Ltd. v. Addl. CIT [2012 (4) TMI 345 - ITAT INDORE] In so far as the amount of other income is concerned, the same has been assessed as "income from other sources" and there is no material before us to distract from the same. Therefore, the said element of income, in our view, is not entitled for claim of deduction under section 10B of the Act. - Decided partly in favour of assessee
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