https://www.taxtmi.com/caselaws?id=750759 ITAT Delhi allowed the assessee's appeal regarding deduction under section 10B for 100% export oriented undertakings (EOUs). The tribunal held that miscellaneous income including scrap sales, tool development income, seating facility receipts, and sundries written back are eligible for deduction under section 10B as they constitute profits derived by the undertaking in the ordinary course of business. Following judicial precedents including Hewlett Packard Global Soft Ltd., the tribunal directed the AO to recompute deductions under section 10B(4). Additionally, the tribunal deleted transfer pricing adjustments on interest receipts from associated enterprises, finding the EURIBOR-based interest rates to be at arm's length. en-us Wed, 27 Mar 2024 00:00:00 +0530 Thu, 28 Mar 2024 17:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750759 ITAT Delhi allowed the assessee's appeal regarding deduction under section 10B for 100% export oriented undertakings (EOUs). The tribunal held that miscellaneous income including scrap sales, tool development income, seating facility receipts, and sundries written back are eligible for deduction under section 10B as they constitute profits derived by the undertaking in the ordinary course of business. Following judicial precedents including Hewlett Packard Global Soft Ltd., the tribunal directed the AO to recompute deductions under section 10B(4). Additionally, the tribunal deleted transfer pricing adjustments on interest receipts from associated enterprises, finding the EURIBOR-based interest rates to be at arm's length. Case-Laws Income Tax Wed, 27 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750759