https://www.taxtmi.com/caselaws?id=241860 The High Court remanded the case to the Assessing Officer for a fresh assessment order due to erroneous deductions under Sections 80HHC and 80IA, found prejudicial to revenue. The Court clarified that deductions must not exceed profits of the eligible business, citing relevant case law. Disagreeing with the Tribunal, the Court upheld the Commissioner's jurisdiction under Section 263 to revise the order. The appeal was partially allowed, emphasizing compliance with Section 80IA(9) restrictions for a new assessment order in line with legal provisions and judicial interpretations. en-us Mon, 03 Sep 2012 00:00:00 +0530 Thu, 02 Jan 2014 08:19:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241860 The High Court remanded the case to the Assessing Officer for a fresh assessment order due to erroneous deductions under Sections 80HHC and 80IA, found prejudicial to revenue. The Court clarified that deductions must not exceed profits of the eligible business, citing relevant case law. Disagreeing with the Tribunal, the Court upheld the Commissioner's jurisdiction under Section 263 to revise the order. The appeal was partially allowed, emphasizing compliance with Section 80IA(9) restrictions for a new assessment order in line with legal provisions and judicial interpretations. Case-Laws Income Tax Mon, 03 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241860