https://www.taxtmi.com/caselaws?id=447815 The ITAT Mumbai ruled in favor of the assessee regarding allocation of general corporate expenses between STPI and non-STPI units under section 10A deduction. The assessee maintained separate books and consistently allocated expenses based on turnover ratios - STPI turnover to total turnover for STPI units, and domestic turnover to total turnover for non-STPI units. The tribunal found the assessing officer's reallocation untenable as the revenue failed to justify their basis, while the assessee followed scientific allocation principles. The revenue had previously accepted this methodology for assessment years 2008-09 to 2012-13. The CIT(A) order was set aside, directing acceptance of the assessee's allocation method. en-us Thu, 07 Dec 2023 00:00:00 +0530 Fri, 05 Jan 2024 08:47:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447815 The ITAT Mumbai ruled in favor of the assessee regarding allocation of general corporate expenses between STPI and non-STPI units under section 10A deduction. The assessee maintained separate books and consistently allocated expenses based on turnover ratios - STPI turnover to total turnover for STPI units, and domestic turnover to total turnover for non-STPI units. The tribunal found the assessing officer's reallocation untenable as the revenue failed to justify their basis, while the assessee followed scientific allocation principles. The revenue had previously accepted this methodology for assessment years 2008-09 to 2012-13. The CIT(A) order was set aside, directing acceptance of the assessee's allocation method. Case-Laws Income Tax Thu, 07 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447815