https://www.taxtmi.com/caselaws?id=208594 The ITAT affirmed the deletion of an addition of Rs. 15,91,821 for free raw material, as consistent accounting practice was followed. It remitted the issue of Rs. 60,910 for bank overdraft interest back to the AO for reconsideration, upholding the business expense nature of the interest. The ITAT upheld the CIT(A)'s direction to allow 100% exemption under section 10A of the Income Tax Act, based on recomputed profits. The appeal was partially allowed for statistical purposes, with the order pronounced on 29.01.2010. en-us Fri, 29 Jan 2010 00:00:00 +0530 Sat, 07 Jan 2012 17:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208594 The ITAT affirmed the deletion of an addition of Rs. 15,91,821 for free raw material, as consistent accounting practice was followed. It remitted the issue of Rs. 60,910 for bank overdraft interest back to the AO for reconsideration, upholding the business expense nature of the interest. The ITAT upheld the CIT(A)'s direction to allow 100% exemption under section 10A of the Income Tax Act, based on recomputed profits. The appeal was partially allowed for statistical purposes, with the order pronounced on 29.01.2010. Case-Laws Income Tax Fri, 29 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208594