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2019 (3) TMI 378 - AT - Income TaxDeduction u/s 10B - assessee has claimed deduction u/s. 10B without considering the brought forward unabsorbed depreciation - Show cause notice stating that why brought forward unabsorbed depreciation may not be first allowed before calculating the deduction u/s. 10B - whether the profit of eligible undertaking for the purpose of allowing deduction u/s 10A (which is analogous to section 10B) at the source itself or after deduction of unabsorbed brought forward depreciation? - HELD THAT:- As decided in YOKOGAWA INDIA LTD. [2011 (8) TMI 845 - KARNATAKA HIGH COURT] it is seen that the Hon. High Court has answered the question as to whether the profit of eligible undertaking for the purpose of allowing deduction u/s 10A of the Act (which is analogous to section 10B) at the source itself or after deduction of unabsorbed brought forward depreciation, in favour of the assessee. The Hon. Court while upholding the contention of the assessee that deduction u/s 1OA was to be allowed at the source itself. - Decided against revenue Addition of demerger expenses - HELD THAT:- We remit the cross objection of the assessee back to the file of Assessing Officer for deciding it afresh after making proper verification. The Assessing Officer is directed to verify the contention of the assessee that the demerger expenses were already considered in the computation of income and shall give credit thereof, if it is found so.- Decided in favour of assessee for statistical purposes.
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