2017 (12) TMI 1360

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....MS.JUSTICE HARSHA DEVANI) 1. Heard Mr. M.R. Bhatt, Senior Advocate, learned counsel for the appellant. 2. ADMIT. 3. The following substantial question of law arises for consideration in both these appeals: Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal has erred in law and on facts by including the interest income of Rs. 6,81,792/- for the claim ....

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....y covered under section 10B of the Act as a 100% export oriented unit and the remaining two divisions, named Green Division and Wind Mill Division, were not covered under section 10B of the Act. All the income earned and all the expenses incurred during the year for the respective divisions, were charged to those divisions respectively. The books of accounts were audited independently for each div....

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....laced reliance upon the order passed in the assessee's own case for assessment year 2008-09 wherein it was held that the Assessing Officer was justified in allocating expenses in proportion to the turnover of various units and, accordingly, dismissed the ground of appeal. 6. The Tribunal, in the impugned order, has found that the assessee has maintained separate books of accounts for each divisio....

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.... units since the initial year and, accordingly, set aside the findings of the Commissioner (Appeals) and directed the Assessing Officer not to reduce the claim of deduction under section 10B of the Act by Rs. 21,23,528/-. 7. Having regard to the facts as emerging from the record, it is clear that the assessee had claimed deduction under section 10B of the Act on actual basis, whereas the Assessin....