https://www.taxtmi.com/caselaws?id=326940 The court dismissed the appeals and upheld the ITAT's decision regarding the computation of deductions under Section 80-O of the Income Tax Act. The court found the Assessee's method of apportioning expenses to result in distorted profit allocation between domestic and foreign income. It deemed the AO's proportionate allocation method as reasonable and scientific, rejecting the Assessee's inconsistent approach. The court ruled in favor of the Revenue, concluding that the Assessee's method was not acceptable due to its distortion of net profits allocation and lack of consistency across assessment years. en-us Tue, 26 Apr 2016 00:00:00 +0530 Tue, 07 Jun 2016 16:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326940 The court dismissed the appeals and upheld the ITAT's decision regarding the computation of deductions under Section 80-O of the Income Tax Act. The court found the Assessee's method of apportioning expenses to result in distorted profit allocation between domestic and foreign income. It deemed the AO's proportionate allocation method as reasonable and scientific, rejecting the Assessee's inconsistent approach. The court ruled in favor of the Revenue, concluding that the Assessee's method was not acceptable due to its distortion of net profits allocation and lack of consistency across assessment years. Case-Laws Income Tax Tue, 26 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326940