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2016 (2) TMI 410 - GUJARAT HIGH COURT

2016 (2) TMI 410 - GUJARAT HIGH COURT - TMI - Addition made on account of suppression of profit - denial of exemption u/s.10B - ITAT deleted the addition - Held that:- The assessee was engaged in manufacturing activity and had two units at Ahmedabad, one of them being export oriented unit, entitled for 100% deduction under section 10B of the Income Tax Act. As the assessee strenuously pointed out that the manufacturing activity of both units was entirely different. The process was vastly differe .....

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ribunal, raising following questions for our consideration : Whether on the facts and in the circumstances of the case, learned Income Tax Appellate Tribunal has erred in law and on facts in confirming the order of Commissioner of Income Tax (Appeals) deleting addition made by the Assessing Officer on account of suppression of profit of ₹ 1,27,93,522/and consequential denial of exemption u/s.10B of the Act? 2. Briefly stated the issue is regarding addition of ₹ 1.27 crores (rounded o .....

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