https://www.taxtmi.com/caselaws?id=353196 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal and allowing the assessee's claim for deduction under Section 10A. The Tribunal emphasized that the Assessing Officer failed to provide sufficient evidence to show that the business arrangement was intended to manipulate profits to abuse the tax concession. The Tribunal highlighted that the mere existence of higher profits and a close connection was insufficient to invoke Section 80IA(10) without substantive evidence of profit manipulation. Consequently, the re-computation of profits under Section 10A(7) read with Section 80IA(10) was deemed unjustified. en-us Wed, 12 Jul 2017 00:00:00 +0530 Fri, 29 Dec 2017 08:46:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353196 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal and allowing the assessee's claim for deduction under Section 10A. The Tribunal emphasized that the Assessing Officer failed to provide sufficient evidence to show that the business arrangement was intended to manipulate profits to abuse the tax concession. The Tribunal highlighted that the mere existence of higher profits and a close connection was insufficient to invoke Section 80IA(10) without substantive evidence of profit manipulation. Consequently, the re-computation of profits under Section 10A(7) read with Section 80IA(10) was deemed unjustified. Case-Laws Income Tax Wed, 12 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353196