https://www.taxtmi.com/caselaws?id=178978 The case involved the disallowance of deduction under section 80IB of the Income Tax Act for the assessment year 2006-07. The Tribunal upheld the CIT(A)'s decision in favor of the appellant, ruling that the appellant was entitled to the deduction as an income tax assessee in Gujarat, where the assessing authority at Daman fell within. The revenue's challenge on allowing the deduction despite disallowance under section 40(a)(ia) was also dismissed by the Tribunal, citing precedent that the deduction still applied to business profit, resulting in the appeal being dismissed. en-us Wed, 21 Dec 2011 00:00:00 +0530 Wed, 17 Feb 2016 12:30:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178978 The case involved the disallowance of deduction under section 80IB of the Income Tax Act for the assessment year 2006-07. The Tribunal upheld the CIT(A)'s decision in favor of the appellant, ruling that the appellant was entitled to the deduction as an income tax assessee in Gujarat, where the assessing authority at Daman fell within. The revenue's challenge on allowing the deduction despite disallowance under section 40(a)(ia) was also dismissed by the Tribunal, citing precedent that the deduction still applied to business profit, resulting in the appeal being dismissed. Case-Laws Income Tax Wed, 21 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178978