https://www.taxtmi.com/caselaws?id=220006 The Tribunal upheld the CIT(A)'s decision, ruling that the income of eligible units under Section 10B is exempt and cannot be set off against the profits of non-eligible units. The Tribunal aligned with the Karnataka High Court's interpretation, rejecting the Assessee's argument based on conflicting views from the Bombay High Court. The Tribunal also implicitly upheld the levy of interest under Sections 234B and 234D, focusing primarily on the application and interpretation of Section 10B. en-us Fri, 12 Oct 2012 00:00:00 +0530 Thu, 03 Jan 2013 18:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220006 The Tribunal upheld the CIT(A)'s decision, ruling that the income of eligible units under Section 10B is exempt and cannot be set off against the profits of non-eligible units. The Tribunal aligned with the Karnataka High Court's interpretation, rejecting the Assessee's argument based on conflicting views from the Bombay High Court. The Tribunal also implicitly upheld the levy of interest under Sections 234B and 234D, focusing primarily on the application and interpretation of Section 10B. Case-Laws Income Tax Fri, 12 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220006