https://www.taxtmi.com/caselaws?id=370706 The Tribunal partly allowed the assessee's appeal, ruling in favor of the assessee on Ground No. 7. The deduction under Section 42(1)(a) and Section 80IB(9) was allowed without reducing the profit by expenses related to unsuccessful exploration in other contract areas. The Tribunal upheld the CIT(A)'s decision, emphasizing that expenses related to other undertakings should not be adjusted when computing the deduction. The appeal outcome favored the assessee, and the order was pronounced on 16th November 2018. en-us Fri, 16 Nov 2018 00:00:00 +0530 Thu, 22 Nov 2018 14:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370706 The Tribunal partly allowed the assessee's appeal, ruling in favor of the assessee on Ground No. 7. The deduction under Section 42(1)(a) and Section 80IB(9) was allowed without reducing the profit by expenses related to unsuccessful exploration in other contract areas. The Tribunal upheld the CIT(A)'s decision, emphasizing that expenses related to other undertakings should not be adjusted when computing the deduction. The appeal outcome favored the assessee, and the order was pronounced on 16th November 2018. Case-Laws Income Tax Fri, 16 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370706