2015 (1) TMI 146

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..... vis-a-vis clause involved before the hon'ble high court (2010 (6) TMI 65 - BOMBAY HIGH COURT). It only pleads that its special leave petition is pending before the hon'ble Supreme Court of India. In our view, this contention only does not form a valid ground to adopt a different approach in the instant case. The hon'ble high court has settled the law that in case of a section 10A undertaking, a di .....

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..... hanced profits consequent to section 40(a)(ia) disallowance of ₹ 26,57,636/-. Facts of the case are in a very narrow compass. The assessee is a 'company' engaged in the business of software development and export. It had filed its 'return' on 30.09.2008 declaring loss of ₹ 17,56,759/-. The same was 'summarily' processed. Thereafter, the Assessing Officer framed .....

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..... iew, this contention only does not form a valid ground to adopt a different approach in the instant case. The hon'ble high court has settled the law that in case of a section 10A undertaking, a disallowance only gives rise to enhanced profits/ income otherwise entitled for deduction. The CIT(A)'s order is upheld. 5. The Revenue appeal is dismissed. (Order pronounced on Wednesday, the .....

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