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2016 (8) TMI 506 - ITAT CHANDIGARHDenial of deduction u/s 80IA - adoption of arbitrary figure of 5% of the income as business income - Held that:- The assessee has failed miserably to substantiate its claim that it manufacture software, profit from which is eligible for deduction u/s 80IA of the Act. Therefore we confirm the finding of the ld CIT(A) in confirming the disallowance of deduction of ₹ 14.46 lakhs as well as confirming the rejection of the book results applying the provisions of section 145 rws 144 of the Act and considering only 5% of the income of the Assessee as business income and balance 95% as income from other sources. In the result all the grounds of the appeal of the assessee is dismissed.
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