2013 (5) TMI 88

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..... e business profits as the profit has already been determined as per P&L Account. Tribunal committed no error in considering assessee eligible for deduction u/s 80-IB on the profits worked out after including therein the disallowance of Rs.24,45,367/- made by the AO u/s 40(a)(ia) - Against revenue. - TAX APPEAL No. 1382 of 2009 - - - Dated:- 1-3-2011 - Akil Kureshi And Sonia Gokani,JJ. .....

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..... such amount in the next year as per the proviso to section 40(a)(ia) ? With respect to second question, we find that the Tribunal dealt with the issue in following manner: We have heard the learned representatives of both the parties at length. The learned DR supported the order of the AO and he further submitted that the decision of the CIT(A) is not acceptable for the reason that deduction u .....

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..... duction u/s 80-IB was not allowable as the disallowance was made on technical ground because this does not form part of the business profits as the profit has already been determined as per P L Account. In our considered view the assessee was eligible for deduction u/s 80-IB on the profits worked out after including therein the disallowance of Rs.24,45,367/- made by the AO u/s 40(a)(ia) of the Act .....

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