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TMI Blog2012 (2) TMI 569X X X X Extracts X X X X X X X X Extracts X X X X ..... ao, AM The above appeal is filed by Revenue against order dated 30.06.2010 of the ld. CIT(A)-Central-II, Kolkata pertaining to A.Yr. 2007-08. 2. The Revenue has raised the following grounds of appeal :- "1. (a) That on the facts and in the circumstances of the case, the ld. CIT(A) has erred in law and facts of the case in directing to include the amount of ₹ 44,43,359/- being interest f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Yr. 2006-07 he requested to dismiss the appeal of the revenue. 4. On the other hand the ld. DR appearing on behalf of the revenue though relied on the orders of revenue authorities could not contradict the said request of the ld. Counsel for assessee. 5. After hearing the rival submissions and on careful perusal of materials available on record, it is observed that the issue raised by the Revenu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ible profit for claiming deduction u/s 80IB. Therefore, deduction u/s 80IB is allowed @ 30% on (Rs.5,00,67,311 - ₹ 58,85,180) i.e. for ₹ 1,32,54,639 instead of ₹ 1,50,28,193 as claimed by the assessee company. On the other hand, the Ld. CIT(A) has deleted the same by observing that "1 have gone through the assessment order and the submissions of appellant and A. 0. during the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... debtors on late payment, we find no infirmity in the orders of ld. CIT(A) in directing AO to include an amount of ₹ 44,43,359/- for computation of deduction u/s 80IB of the Act. Therefore we confirm the same and dismiss the appeal of the revenue.
6. In the result the appeal of the Revenue is dismissed.
Order pronounced in the court on 10.02.2012. X X X X Extracts X X X X X X X X Extracts X X X X
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