Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (7) TMI 842 - AT - Income TaxEligibility of the EOU unit for claiming deduction u/s 10B - AO denied the claim of deduction mainly on the ground that 10B unit was an expansion of business since it was started in F.Y. 1999-2000 and secondly the expenses of 10B unit were shifted to non 10B unit to show and claim higher profits in 10B unit - CIT(A) allowed claim - Held that:- CIT(A) has rightly held that the unit of the assessee was eligible for claim of 10B deduction as per the CBDT Circular No.1/2005 dated 6th January 2005. The Ld. CIT(A) after analyzing the remand reports, details and evidences on the file and considering the submissions of the assessee has very rationally allocated certain expenses of the non 10B Unit to the eligible Unit and thereafter has restricted the disallowance to ₹ 33,54,723/- and has allowed the balance claim of deduction. We do not find any reason to interfere in the well reasoned order of the CIT(A). - Decided against revenue.
|