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Commissioner of Income-Tax Versus Schmetz India P. Ltd.

2015 (6) TMI 1044 - BOMBAY HIGH COURT

Computation of deduction u/s 10A - Tribunal came to the conclusion that there was nothing on record to show that the profits arrived at by the assessee in respect of the section 10A unit carrying on the business of manufacturing industrial sewing mac .....

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efore allowing deduction of ₹ 20,53,26,910 ? - Tribunal held that there was no material available with the Assessing Officer to estimate the profits of the section 10A unit eligible for deduction invoking the provisions of section 80-IA(10) rea .....

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9) TMI 407 - BOMBAY HIGH COURT ] wherein held Section 10A is a provision which is in the nature of a deduction and not an exemption - the deduction under Section 10A has to be given effect to at the stage of computing the profits and gains of busines .....

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order of the Tribunal for the assessment year 2004-05 - Decided against revenue - Income Tax Appeal No. 1382 of 2013 - Dated:- 24-6-2015 - M. S. Sanklecha And N. M. Jamdar, JJ. For the Petitioner : S. V. Bharucha For the Respondent : F. V. Irani, At .....

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2. Ms. Bharucha, learned counsel appearing for the Revenue urges the following questions of law for our consideration : "(a) Whether on the facts and circumstances of the case and in law the Tribunal was justified in coming to the conclusion tha .....

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abnormally high profit was due to extraordinary arrangement between the assessee and the German company entered into only with a view to boost the profits of the assessee and therefore allowing deduction of ₹ 20,53,26,910 ? (b) Whether on the .....

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