https://www.taxtmi.com/caselaws?id=325351 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision, allowing the full deduction under Section 80IB of the Income Tax Act for the manufacturing and packing company. It ruled that the Assessing Officer failed to prove the business arrangement produced more than ordinary profits. The Tribunal also found the Assessing Officer's application of Section 80IA(10) to determine profit margin lacked substantiation of a close connection with another company and appropriate comparables, ultimately dismissing the Revenue's appeals and deeming the Cross Objection by the assessee academic. en-us Mon, 11 Jan 2016 00:00:00 +0530 Thu, 17 Mar 2016 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325351 The Tribunal upheld the Commissioner of Income Tax (Appeals)' decision, allowing the full deduction under Section 80IB of the Income Tax Act for the manufacturing and packing company. It ruled that the Assessing Officer failed to prove the business arrangement produced more than ordinary profits. The Tribunal also found the Assessing Officer's application of Section 80IA(10) to determine profit margin lacked substantiation of a close connection with another company and appropriate comparables, ultimately dismissing the Revenue's appeals and deeming the Cross Objection by the assessee academic. Case-Laws Income Tax Mon, 11 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325351