https://www.taxtmi.com/caselaws?id=193291 The Tribunal dismissed the claim of deduction under section 10B for profits from incentives received from the Ministry of Commerce, finding them ineligible for deduction. Initially restricting deduction to 90% of eligible profits for certain assessment years, the Tribunal corrected this decision to allow 100% deduction after reviewing CBDT circular No. 8 of 2002, which clarified the applicability of the second proviso under section 10B. The Tribunal aligned its decision with the circular's provisions, dismissing Miscellaneous Applications and correcting the deduction percentage to 100% for the relevant assessment years. en-us Thu, 19 Jun 2014 00:00:00 +0530 Sat, 22 Jul 2017 10:38:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193291 The Tribunal dismissed the claim of deduction under section 10B for profits from incentives received from the Ministry of Commerce, finding them ineligible for deduction. Initially restricting deduction to 90% of eligible profits for certain assessment years, the Tribunal corrected this decision to allow 100% deduction after reviewing CBDT circular No. 8 of 2002, which clarified the applicability of the second proviso under section 10B. The Tribunal aligned its decision with the circular's provisions, dismissing Miscellaneous Applications and correcting the deduction percentage to 100% for the relevant assessment years. Case-Laws Income Tax Thu, 19 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193291