https://www.taxtmi.com/caselaws?id=275760 The ITAT upheld the CIT(A)'s decisions for both assessment years, dismissing the Revenue's appeals. The deductions under Section 80IA(4)(iv) were allowed as there were no carry forward losses to be set off against profits. Additionally, the disallowance of legal and professional fees was partially deleted as the expenditures were found to be incurred wholly and exclusively for the business. The ITAT ruled in favor of the assessee, citing precedents and principles established in prior judicial decisions. en-us Tue, 09 Feb 2016 00:00:00 +0530 Tue, 16 Oct 2018 05:56:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275760 The ITAT upheld the CIT(A)'s decisions for both assessment years, dismissing the Revenue's appeals. The deductions under Section 80IA(4)(iv) were allowed as there were no carry forward losses to be set off against profits. Additionally, the disallowance of legal and professional fees was partially deleted as the expenditures were found to be incurred wholly and exclusively for the business. The ITAT ruled in favor of the assessee, citing precedents and principles established in prior judicial decisions. Case-Laws Income Tax Tue, 09 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275760