https://www.taxtmi.com/caselaws?id=395245 The Tribunal upheld the decision to disallow the deduction under Section 80IB for specified assessment years due to the assessee's failure to establish a new industrial undertaking. Payments to overseas service providers were not taxable in India, overturning the disallowance under Section 40(a)(i). The Tribunal directed the AO to allow correct credit for advance tax and self-assessment tax. The incorrect computation of interest under Section 234B for a specific assessment year was remanded for reevaluation. Appeals for multiple assessment years were dismissed, some partly allowed for statistical purposes, and one allowed outright. en-us Fri, 01 Nov 2019 00:00:00 +0530 Wed, 13 May 2020 11:10:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395245 The Tribunal upheld the decision to disallow the deduction under Section 80IB for specified assessment years due to the assessee's failure to establish a new industrial undertaking. Payments to overseas service providers were not taxable in India, overturning the disallowance under Section 40(a)(i). The Tribunal directed the AO to allow correct credit for advance tax and self-assessment tax. The incorrect computation of interest under Section 234B for a specific assessment year was remanded for reevaluation. Appeals for multiple assessment years were dismissed, some partly allowed for statistical purposes, and one allowed outright. Case-Laws Income Tax Fri, 01 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395245