https://www.taxtmi.com/caselaws?id=235195 The Tribunal allowed the deduction under Section 80IB for a partnership firm engaged in manufacturing a new product, overturning the AO and CIT(A)'s disallowance. The protective addition of Rs. 5,66,185/- was confirmed due to an erroneous computation method. The disallowance under Section 40(a)(ia) for outward freight charges was remanded for further examination. The disallowance of 10% of labor charges was reduced to 5% by the Tribunal. The Tribunal directed the AO to verify TDS details before levying interest under Section 234B, partially allowing the appeal and modifying disallowance percentages. en-us Tue, 30 Apr 2013 00:00:00 +0530 Mon, 15 Jul 2013 09:29:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235195 The Tribunal allowed the deduction under Section 80IB for a partnership firm engaged in manufacturing a new product, overturning the AO and CIT(A)'s disallowance. The protective addition of Rs. 5,66,185/- was confirmed due to an erroneous computation method. The disallowance under Section 40(a)(ia) for outward freight charges was remanded for further examination. The disallowance of 10% of labor charges was reduced to 5% by the Tribunal. The Tribunal directed the AO to verify TDS details before levying interest under Section 234B, partially allowing the appeal and modifying disallowance percentages. Case-Laws Income Tax Tue, 30 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235195