2014 (6) TMI 1094

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the Appellants : Sri K.V. Aravind, Adv. For the Respondent : Sri Suryanarayana, Adv. For M/s. King & Patridge. JUDGMENT PER MR. JUSTICE N. KUMAR The Revenue has preferred this appeal challenging the order passed by the Income Tax Appellate Tribunal in ITA No. 249/Bang/2007 dated 27.11.2007. 2. The appeal is admitted for considering the following substantial question of law: ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rofit making units? (4) Whether the tribunal was correct in holding that deduction u/s. 10A of the Act is allowable in respect of income computed on the arms length price by ignoring the proviso to Section 92(4) of the Act?" 3. In so far as substantial question of law No. 1 is concerned, this Court had an occasion to consider the same in the case of Commissioner of Income Tax and ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssed by the Apex Court. 6. In so far as substantial question of law No. 4 is concerned, the error committed by the Assessing Officer was relying on Section 92(C)(4) to a case where Arm's Length Price was determined by the assessee, whereas the said provision applies to a case where Arm's Length Price was determined by the Assessing authority, that mistake has been corrected by the tribunal....