https://www.taxtmi.com/caselaws?id=242693 The Tribunal upheld the CIT(A)'s decision in a case concerning deduction u/s 10B for A.Y. 2006-07 and 2007-08. It affirmed that only the manufacturing unit was eligible for the deduction, supporting the AO's allocation method based on turnover ratio. The Tribunal also ruled in favor of considering export incentives as part of eligible profits and directed the AO to determine the nature of interest income for deduction eligibility under section 10B. In a separate judgment, the Tribunal dismissed the Revenue's appeal against the deletion of penalty, emphasizing the importance of supporting claims with professional opinions. en-us Fri, 05 Jul 2013 00:00:00 +0530 Sun, 19 Jan 2014 09:48:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242693 The Tribunal upheld the CIT(A)'s decision in a case concerning deduction u/s 10B for A.Y. 2006-07 and 2007-08. It affirmed that only the manufacturing unit was eligible for the deduction, supporting the AO's allocation method based on turnover ratio. The Tribunal also ruled in favor of considering export incentives as part of eligible profits and directed the AO to determine the nature of interest income for deduction eligibility under section 10B. In a separate judgment, the Tribunal dismissed the Revenue's appeal against the deletion of penalty, emphasizing the importance of supporting claims with professional opinions. Case-Laws Income Tax Fri, 05 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242693