2012 (6) TMI 839

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..... appeal by the Revenue arises out of the order passed by the learned CIT(A) on 01.02.2011 in relation to the assessment year 2005-2006. 2. The only issue raised by the Revenue in this appeal is against the direction of the learned CIT(A) to allow deduction u/s 10B from the income computed u/s 115JB. Briefly stated the facts of the case are that the assessee reduced a sum of ₹ 1,91,59,172, .....

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..... (ii) the amount of income to which any of the provisions of section 10 (other than the provisions contained in clause (23G) thereof)] or section 10A or section 10B or section 11 or section 12 apply, if any such amount is credited to the profit and loss account . A bare perusal of the provision indicates that if the amount otherwise eligible for deduction/exemption under the provisions specified i .....

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