Assessing Officer Disallows Excess Deduction for High Profit Margin u/s 10AA and Section 80IA(10) of Income Tax Act.

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....Disallowance of excess deduction claimed u/s 10AA r.w.s 80IA(10) - AO observed that the Appellant earned more than 'ordinary profits' to its associated enterprise ('AE') - where net profit was shown by the assessee at 63%, there is no merit in applying the concept of OP/OC, which cannot be the basis for benchmarking the profits of any business - AT....