https://www.taxtmi.com/caselaws?id=261113 The Tribunal allowed the appeal of the assessee, setting aside the disallowance of Rs. 9,56,36,478 under Section 10B of the Income Tax Act. The Tribunal held that the Assessing Officer exceeded jurisdiction by invoking certain sections without proving any arrangement resulting in more than ordinary profits. The Tribunal emphasized the necessity for the AO to provide substantial reasons and evidence for any disallowance under Section 10B, which was lacking in this case. en-us Fri, 26 Jun 2015 00:00:00 +0530 Fri, 03 Jul 2015 07:46:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261113 The Tribunal allowed the appeal of the assessee, setting aside the disallowance of Rs. 9,56,36,478 under Section 10B of the Income Tax Act. The Tribunal held that the Assessing Officer exceeded jurisdiction by invoking certain sections without proving any arrangement resulting in more than ordinary profits. The Tribunal emphasized the necessity for the AO to provide substantial reasons and evidence for any disallowance under Section 10B, which was lacking in this case. Case-Laws Income Tax Fri, 26 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261113