2016 (2) TMI 1064 - SCH - Income Tax

Computation of deduction u/s 10A - HC 2015 (6) TMI 1044 - BOMBAY HIGH COURT held Section 10A is a provision which is in the nature of a deduction and not an exemption - the deduction under Section 10A has to be given effect to at the stage of computing the profits and gains of business - Section 80B(5) defines for the purposes of Chapter VI-A gross total income to mean the total income computed in accordance with the provisions of the Act before making any deduction under the Chapter . Appeal divided against revenue Delay condoned. Revenue appeal against HC accepted.

Summary

The Supreme Court's judgment in 2016 (2) TMI 1064 - SC Order was delivered by HON'BLE MR. JUSTICE KURIAN JOSEPH AND HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN. The delay was condoned in the case. The legal representatives included Mr. Ranjit Kumar, Mr. Ritin Rai, Mr. Haris Beeran, Mr. P.K.Malik, Ms. Sadhvi Mohindru, Mr. B.V. Balram Das, and Mrs. An