https://www.taxtmi.com/caselaws?id=277092 Disallowance under section 43B that increases the profits of an eligible business can support a higher deduction under section 80IC, because the enhanced profits are treated as part of the business profits for Chapter VI-A purposes. The Tribunal relied on CBDT guidance recognising that disallowances under provisions such as sections 32, 40(a)(ia), 40A(3) and 43B, when connected with the eligible business activity, result in enhanced deductible profits. Applying that settled position, the Tribunal held that the assessee was entitled to deduction on the increased profit figure and decided the issue in favour of the assessee. en-us Mon, 16 Apr 2018 00:00:00 +0530 Sat, 24 Nov 2018 07:22:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277092 Disallowance under section 43B that increases the profits of an eligible business can support a higher deduction under section 80IC, because the enhanced profits are treated as part of the business profits for Chapter VI-A purposes. The Tribunal relied on CBDT guidance recognising that disallowances under provisions such as sections 32, 40(a)(ia), 40A(3) and 43B, when connected with the eligible business activity, result in enhanced deductible profits. Applying that settled position, the Tribunal held that the assessee was entitled to deduction on the increased profit figure and decided the issue in favour of the assessee. Case-Laws Income Tax Mon, 16 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277092