https://www.taxtmi.com/caselaws?id=276393 The Tribunal allowed the assessee's appeals, ruling that Prajna (India) qualified for a deduction under Section 10B of the Income Tax Act. It found that Prajna (India) was established as a separate entity with new investments, rejecting claims of splitting up Dynamech's business. The Tribunal also dismissed allegations of tax evasion, emphasizing Prajna (India)'s genuine business operations and improved profitability. The CIT(A)'s decision to disallow the deduction was overturned, affirming Prajna (India)'s independent status and eligibility for the tax benefit. en-us Thu, 05 Mar 2015 00:00:00 +0530 Fri, 09 Nov 2018 18:59:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276393 The Tribunal allowed the assessee's appeals, ruling that Prajna (India) qualified for a deduction under Section 10B of the Income Tax Act. It found that Prajna (India) was established as a separate entity with new investments, rejecting claims of splitting up Dynamech's business. The Tribunal also dismissed allegations of tax evasion, emphasizing Prajna (India)'s genuine business operations and improved profitability. The CIT(A)'s decision to disallow the deduction was overturned, affirming Prajna (India)'s independent status and eligibility for the tax benefit. Case-Laws Income Tax Thu, 05 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276393