https://www.taxtmi.com/caselaws?id=329711 The Tribunal dismissed the Revenue's appeal against the order of the Commissioner of Income Tax (Appeals) for the assessment year 2010-11. The dispute centered on the disallowance of a deduction under section 801A amounting to Rs. 39,62,582. The Tribunal clarified that losses preceding the initial assessment year should not be considered for computing eligible profits for the deduction. Relying on relevant provisions and precedents, the Tribunal upheld the Commissioner's decision in favor of the assessee, affirming the dismissal of the Revenue's appeal. en-us Thu, 12 May 2016 00:00:00 +0530 Fri, 08 Jul 2016 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329711 The Tribunal dismissed the Revenue's appeal against the order of the Commissioner of Income Tax (Appeals) for the assessment year 2010-11. The dispute centered on the disallowance of a deduction under section 801A amounting to Rs. 39,62,582. The Tribunal clarified that losses preceding the initial assessment year should not be considered for computing eligible profits for the deduction. Relying on relevant provisions and precedents, the Tribunal upheld the Commissioner's decision in favor of the assessee, affirming the dismissal of the Revenue's appeal. Case-Laws Income Tax Thu, 12 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329711