https://www.taxtmi.com/caselaws?id=370710 The Tribunal ruled in favor of the assessee, rejecting the CIT's assumption of jurisdiction under section 263. It upheld the allowance of deduction under section 10A, emphasizing the non-obstante clause of section 10A(1A) overriding the 4th proviso to subsection (1). The Tribunal also held that Minimum Alternate Tax (MAT) provisions under section 115JC were not applicable to deductions claimed under section 10A. Additionally, it supported the AO's decision on the deduction for commission expenses and interest income from FDRs under section 10A. Consequently, the Tribunal canceled the CIT's order and allowed the appeal of the assessee. en-us Tue, 20 Nov 2018 00:00:00 +0530 Thu, 22 Nov 2018 07:13:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370710 The Tribunal ruled in favor of the assessee, rejecting the CIT's assumption of jurisdiction under section 263. It upheld the allowance of deduction under section 10A, emphasizing the non-obstante clause of section 10A(1A) overriding the 4th proviso to subsection (1). The Tribunal also held that Minimum Alternate Tax (MAT) provisions under section 115JC were not applicable to deductions claimed under section 10A. Additionally, it supported the AO's decision on the deduction for commission expenses and interest income from FDRs under section 10A. Consequently, the Tribunal canceled the CIT's order and allowed the appeal of the assessee. Case-Laws Income Tax Tue, 20 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370710