2010 (3) TMI 1145

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....ior Advocate with Mr. S.G. Lakhani for the Respondent. JUDGEMENT 1. The Appeal arises out of an order passed by the Income Tax Appellate Tribunal on 28th September, 2005 in relation to Assessment Year 1998-99. The question of law formulated by the Revenue in the appeal under Section 260A of the Income Tax Act is as follows "( a) Whether on the facts and the circumstances of the c....

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....e was computed at Rs. 59.74 Crores. However, the deduction under Section 80IA was restricted by the Assessing Officer to Rs. 56.54 Crores which constituted the profits and gains of business. In appeal, the CIT(A) held that the assessee was entitled to a deduction under Section 80IA to the extent of its gross total income as computed by the Assessing Officer after making additions. The Tribunal aff....

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....A( 2) that the assessee restricted its claim of deduction under Section 80IA to the gross total income. There was no basis or justification for the Assessing Officer to confine the deduction only to the extent of the profits and gains of business. In this regard our attention has been drawn to a judgment of this Court dated 4th February, 2010 in The Commissioner of Income Tax v. M/s. Tridoss Labor....