https://www.taxtmi.com/caselaws?id=203467 The High Court held that the Tribunal exceeded its authority by allowing the account transfers of goods on a cost price basis to inflate profits for deduction under section 80-IB. The Court emphasized that eligibility for the deduction is based on the profit derived by the eligible unit itself and disallowed the Tribunal's direction. The Court noted that the assessee had acknowledged the high claim initially and made necessary adjustments. Consequently, the Court allowed the appeal, reversing the Tribunal's order and restoring the assessment confirmed in the first appeal. en-us Mon, 03 Jan 2011 00:00:00 +0530 Sat, 29 Jun 2013 10:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203467 The High Court held that the Tribunal exceeded its authority by allowing the account transfers of goods on a cost price basis to inflate profits for deduction under section 80-IB. The Court emphasized that eligibility for the deduction is based on the profit derived by the eligible unit itself and disallowed the Tribunal's direction. The Court noted that the assessee had acknowledged the high claim initially and made necessary adjustments. Consequently, the Court allowed the appeal, reversing the Tribunal's order and restoring the assessment confirmed in the first appeal. Case-Laws Income Tax Mon, 03 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203467