https://www.taxtmi.com/caselaws?id=338754 The High Court allowed the appeal, directing the Tribunal to reexamine the issue of restricting deduction under Section 80IB of the Income Tax Act for the Assessment Year 2009-10. The Court held that the Tribunal erred in relying solely on common customers to conclude that profits were inflated, emphasizing the lack of evidence of any arrangement between units. The Tribunal's decision was set aside, and the issue was remanded for fresh consideration, emphasizing the need for a proper interpretation of relevant sections. No costs were awarded in the matter. en-us Tue, 31 Jan 2017 00:00:00 +0530 Sat, 25 Mar 2017 13:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338754 The High Court allowed the appeal, directing the Tribunal to reexamine the issue of restricting deduction under Section 80IB of the Income Tax Act for the Assessment Year 2009-10. The Court held that the Tribunal erred in relying solely on common customers to conclude that profits were inflated, emphasizing the lack of evidence of any arrangement between units. The Tribunal's decision was set aside, and the issue was remanded for fresh consideration, emphasizing the need for a proper interpretation of relevant sections. No costs were awarded in the matter. Case-Laws Income Tax Tue, 31 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338754