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2007 (3) TMI 287 - AT - Income TaxAllowability of deduction u/s 10B - Export sales - Not maintain separate books of accounts - Three units including Koregaon, Taloja and New Delhi - Unit at Koregaon is a 100 per cent export-oriented undertaking - carry forward of loss - business of processing and exporting meat - HELD THAT:-Neither the findings of the CIT(A) could be controverted by the ld DR nor any other material was brought on record to establish otherwise. We have also taken into consideration the various decisions on which reliance was placed by the AR and found that though these decisions are not in respect of deduction u/s 10B, but they are in respect of deduction claimed u/s 80-I. However, in these cases also it was held that it is not necessary to maintain separate books of accounts but what is necessary is that necessary conditions for claiming the deduction have to be satisfied. In the present case, there is no dispute that the assessee has fulfilled all the conditions. We therefore are of the considered view that the AO was not justified in denying the claim of the assessee on account that no separate books of accounts have been maintained by the assessee but the CIT(A) was justified in allowing the claim of the assessee. Therefore, in view of the reasoning given by the CIT(A), we confirm his order for both the years. In the result, the appeals filed by the Department are dismissed.
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