https://www.taxtmi.com/caselaws?id=350640 The Delhi High Court dismissed the Revenue's appeal under Section 260A of the Income Tax Act, 1961, challenging the ITAT's order for the Assessment Year 2006-07. The case involved the denial of deduction under Section 80-IA (10) due to a close connection between the Assessee and other entities. The Court emphasized the need to demonstrate 'more than ordinary profits' and rejected the argument that a 40% GP ratio suffices. It clarified the responsibilities of the AO, CIT (A), and ITAT in such cases, concluding that no substantial question of law arose from the ITAT's decision. en-us Mon, 24 Jul 2017 00:00:00 +0530 Thu, 09 Nov 2017 08:12:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350640 The Delhi High Court dismissed the Revenue's appeal under Section 260A of the Income Tax Act, 1961, challenging the ITAT's order for the Assessment Year 2006-07. The case involved the denial of deduction under Section 80-IA (10) due to a close connection between the Assessee and other entities. The Court emphasized the need to demonstrate 'more than ordinary profits' and rejected the argument that a 40% GP ratio suffices. It clarified the responsibilities of the AO, CIT (A), and ITAT in such cases, concluding that no substantial question of law arose from the ITAT's decision. Case-Laws Income Tax Mon, 24 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350640