https://www.taxtmi.com/caselaws?id=362266 The Tribunal upheld the Dispute Resolution Panel's decision to delete the addition made by the Assessing Officer under section 10AA of the Income-tax Act, 1961. It found that the exempted unit's abnormally high profit lacked a satisfactory explanation, but recognized the discretion of the assessee to manage affairs to reduce tax liability. The Tribunal affirmed the Panel's decision based on factual findings and the remand report, concluding that the taxable units manufactured different products with varying profitability. The appeal of the Revenue was ultimately dismissed. en-us Mon, 02 Apr 2018 00:00:00 +0530 Fri, 22 Jun 2018 08:29:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362266 The Tribunal upheld the Dispute Resolution Panel's decision to delete the addition made by the Assessing Officer under section 10AA of the Income-tax Act, 1961. It found that the exempted unit's abnormally high profit lacked a satisfactory explanation, but recognized the discretion of the assessee to manage affairs to reduce tax liability. The Tribunal affirmed the Panel's decision based on factual findings and the remand report, concluding that the taxable units manufactured different products with varying profitability. The appeal of the Revenue was ultimately dismissed. Case-Laws Income Tax Mon, 02 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362266