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2023 (7) TMI 853 - AT - Income TaxDeduction u/s 80IE - Gross total income of an assessee which includes any profits and gains derived by an undertaking on the eligible business prescribed - HELD THAT:- The recent supreme court judgment in the case of Reliance Energy [2021 (4) TMI 1237 - SUPREME COURT] has held that the scope of sub-sec(5) of 80IA is limited to determination of quantum deduction under sub sec.(1) of sec. 80IA by treating eligible business as the only source of income and sub-section (5) cannot be pressed into service for reading a limitation of deduction under sub-sec. (1) only to “business income" Further as it can be seen from the Ld. CIT(A) order and the regular assessment passed u/s. 143(3) AO followed the Hon’ble Supreme Court judgment in the case of Reliance Energy Ltd. and granted deduction under 80IE on the Gross Total Income of the Assessee. Decided against revenue.
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