https://www.taxtmi.com/caselaws?id=212736 The court ruled in favor of the assessee regarding the invocation of Section 80-I(9) of the Income Tax Act, finding no evidence of an arrangement to inflate profits. Compliance with Section 80-I(9) read with Section 10A(6) was upheld as the assessee followed standard accounting practices. However, the rejection of books under Section 145 was remanded for further examination to determine the entitlement to deductions. The inclusion of MODVAT credit income and closing stock value was also remanded for additional evidence. The appeals were allowed in part, with costs to be borne by each party. en-us Tue, 17 Jan 2012 00:00:00 +0530 Thu, 02 Jul 2026 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212736 The court ruled in favor of the assessee regarding the invocation of Section 80-I(9) of the Income Tax Act, finding no evidence of an arrangement to inflate profits. Compliance with Section 80-I(9) read with Section 10A(6) was upheld as the assessee followed standard accounting practices. However, the rejection of books under Section 145 was remanded for further examination to determine the entitlement to deductions. The inclusion of MODVAT credit income and closing stock value was also remanded for additional evidence. The appeals were allowed in part, with costs to be borne by each party. Case-Laws Income Tax Tue, 17 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212736