https://www.taxtmi.com/caselaws?id=346550 The Appellate Tribunal upheld the CIT(A)'s decision to restrict the trading addition to Rs. 1,00,000, finding the Assessing Officer's basis insufficient for the higher amount. Additionally, the Tribunal affirmed the CIT(A)'s allowance of the deduction under section 80IA totaling Rs. 1,62,25,183, emphasizing that losses and depreciation from prior years should not impact eligible profit calculation. The Tribunal dismissed the Revenue's appeal, supporting the CIT(A)'s decisions with reference to judicial precedents and finding no grounds for interference. en-us Fri, 11 Aug 2017 00:00:00 +0530 Fri, 18 Aug 2017 08:41:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346550 The Appellate Tribunal upheld the CIT(A)'s decision to restrict the trading addition to Rs. 1,00,000, finding the Assessing Officer's basis insufficient for the higher amount. Additionally, the Tribunal affirmed the CIT(A)'s allowance of the deduction under section 80IA totaling Rs. 1,62,25,183, emphasizing that losses and depreciation from prior years should not impact eligible profit calculation. The Tribunal dismissed the Revenue's appeal, supporting the CIT(A)'s decisions with reference to judicial precedents and finding no grounds for interference. Case-Laws Income Tax Fri, 11 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346550