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2022 (10) TMI 1105 - AT - Income TaxDeduction 80IB - claim of interest income & other income - only point raised by the ld. CIT(A) is calculated the other income, but no such other income was pointed out in the calculation of the assessee - HELD THAT:- The claim of the assessee related to section 80IB is restricted by the revenue on determination of other income embedded in the profit of the assessee. Respectfully, we observed the direction of Hon’able Apex Court in the case of Krishak Bharati Cooperative Ltd. v. Joint Commissioner of Income-tax [2022 (8) TMI 1296 - SC ORDER] held that the interest income is not part of deduction U/s 80IA. CIT(A) had rightly pointed out about the embedded duty drawback value in Export Turn Over which is not separately explained by the assessee in the submission. The claim of interest income & other income should be verified by the ld. AO during hearing. The assessee should get reasonable opportunity to submit the evidence during the hearing.Accordingly, the matter is setting aside to ld. AO consider the terms indicated above - Appeal of the assessee is allowed for statistical purpose.
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