https://www.taxtmi.com/caselaws?id=349264 A binding CBDT circular under section 119 treats additions as revenue neutral where enhanced business profits remain fully eligible for profit-linked deduction. On that basis, the Tribunal applied the same principle to disallowances under section 40(a)(i), even though the circular referred to section 40(a)(ia) illustratively. Because the assessee's business income was eligible for deduction under section 10A, the disputed disallowances had no real tax impact and the Revenue's appeal on those grounds was not maintainable. The connected grounds were therefore dismissed as academic in the presence of the deduction claim. en-us Mon, 25 Sep 2017 00:00:00 +0530 Tue, 10 Oct 2017 10:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349264 A binding CBDT circular under section 119 treats additions as revenue neutral where enhanced business profits remain fully eligible for profit-linked deduction. On that basis, the Tribunal applied the same principle to disallowances under section 40(a)(i), even though the circular referred to section 40(a)(ia) illustratively. Because the assessee's business income was eligible for deduction under section 10A, the disputed disallowances had no real tax impact and the Revenue's appeal on those grounds was not maintainable. The connected grounds were therefore dismissed as academic in the presence of the deduction claim. Case-Laws Income Tax Mon, 25 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349264