https://www.taxtmi.com/caselaws?id=388079 The Tribunal partly allowed the appeal, upholding the deduction under section 10B while dismissing the challenge to the non-reduction under section 35(2AB). The decision directing the deduction representing the addition made to closing inventory was reversed in favor of the Revenue. The general grounds raised did not require adjudication. The Tribunal found that the unit in question was not formed by splitting up an existing business, making the assessee eligible for the deduction under section 10B, and that the expenses claimed under section 35(2AB) were already appropriately reduced. en-us Wed, 30 Oct 2019 00:00:00 +0530 Thu, 07 Nov 2019 08:14:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388079 The Tribunal partly allowed the appeal, upholding the deduction under section 10B while dismissing the challenge to the non-reduction under section 35(2AB). The decision directing the deduction representing the addition made to closing inventory was reversed in favor of the Revenue. The general grounds raised did not require adjudication. The Tribunal found that the unit in question was not formed by splitting up an existing business, making the assessee eligible for the deduction under section 10B, and that the expenses claimed under section 35(2AB) were already appropriately reduced. Case-Laws Income Tax Wed, 30 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388079