https://www.taxtmi.com/caselaws?id=438247 The Tribunal allowed the appeals of the assessee for Assessment Years 2010-11 and 2011-12. The Assessing Officer's conclusions regarding alleged concealed sales and production were modified, directing a restriction on the disallowance of excess raw material wastage. The claim for 80IB deduction on increased business income due to concealed production was rejected. Sales promotion expenses were remitted for fresh verification in line with recent Supreme Court judgment. The AO was directed to consider enhanced profits from any disallowed expenses while computing the revised deduction under section 80IB. en-us Tue, 23 May 2023 00:00:00 +0530 Thu, 25 May 2023 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438247 The Tribunal allowed the appeals of the assessee for Assessment Years 2010-11 and 2011-12. The Assessing Officer's conclusions regarding alleged concealed sales and production were modified, directing a restriction on the disallowance of excess raw material wastage. The claim for 80IB deduction on increased business income due to concealed production was rejected. Sales promotion expenses were remitted for fresh verification in line with recent Supreme Court judgment. The AO was directed to consider enhanced profits from any disallowed expenses while computing the revised deduction under section 80IB. Case-Laws Income Tax Tue, 23 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438247