https://www.taxtmi.com/caselaws?id=347715 The Tribunal dismissed the Revenue's appeal against the CIT(A)'s order directing to allow deduction under section 80P on enhanced profit. It held that the deduction should be from the finally assessed business income, not just the income declared in the return, in line with the Act's provisions. Comparing with previous decisions, the Tribunal emphasized the importance of computing profits as per statutory rules. The Tribunal found no fault in the CIT(A)'s decision and upheld it, ultimately dismissing the Revenue's appeal. en-us Mon, 04 Sep 2017 00:00:00 +0530 Sat, 09 Sep 2017 09:19:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347715 The Tribunal dismissed the Revenue's appeal against the CIT(A)'s order directing to allow deduction under section 80P on enhanced profit. It held that the deduction should be from the finally assessed business income, not just the income declared in the return, in line with the Act's provisions. Comparing with previous decisions, the Tribunal emphasized the importance of computing profits as per statutory rules. The Tribunal found no fault in the CIT(A)'s decision and upheld it, ultimately dismissing the Revenue's appeal. Case-Laws Income Tax Mon, 04 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347715