2011 (3) TMI 1716

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....ed 31st December 2008 seeking to raise following questions for our consideration :- "Whether on the facts and circumstances of the case and in law, the Appellate Tribunal was right in holding that the assessee is eligible for deduction u/s. 80IB of the Act, on disallowance of ₹ 17,13,927/= made u/s. 40 (a)(ia) ?" The issue arises in the following factual background :- Assessee filed retu....

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....al. The Tribunal, by the impugned order, rejected the Revenue's appeal. Hence, the present appeal before us. As already noted, the CIT [A]'s order confirming the disallowances has been accepted by the assessee. That being so, we do not find any infirmity with the view taken by the CIT [A] as well as the Tribunal that on the enhanced profit, the assessee would be entitled to proportionate ....