TMI Blog2016 (10) TMI 248X X X X Extracts X X X X X X X X Extracts X X X X ..... conclusion by considering the decision of Calcutta High Court in case of Chloride India Ltd [2001 (12) TMI 34 - CALCUTTA High Court] is in complete agreement with the conclusions arrived at by the authorities below. Accordingly, both the appeals are dismissed. The issue raised in these appeals is answered in favour of the assessee - TAX APPEAL NO. 1407 of 2009, TAX APPEAL NO. 1408 of 2009 - - - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the AO determined the total income of the assessee at ₹ 89,66,340/. 2.1 The assessee took up the matter before the CIT (A) whereby the appeal of the assessee came to be allowed and assessee was entitled to deduction under Section 10B of the Act of ₹ 1,42,38,194/as claimed by the assessee in the return of income. 2.2 Aggrieved by the order of CIT (A), the revenue took the matter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is Court to the order passed by the AO and contended that the issue was discussed in detail and therefore both the orders passed by the authorities require to be quashed and set aside and issue raised in this appeal may be answered in favour of the Department. 5. We have the learned Counsel for the appellant Department and have perused the impugned orders passed by the CIT (A) as well as the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the appellant is entitled to the deduction n/s. 10B at ₹ 1,42,38,194/as claimed by it in its return of income. 7. The Tribunal in its order at paragraph No.7 has observed thus: 7. We have considered rival submissions and gone through the orders of the tax authorities. We find that the learned CIT (A) has based its order on the decision of the Tribunal in the case of ACIT Vs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8. In the opinion of this Court, both the authorities have rightly come to the conclusion by considering the decision of Calcutta High Court in case of Chloride India Ltd (supra) and this Court is in complete agreement with the conclusions arrived at by the authorities below. Accordingly, both the appeals are dismissed. The issue raised in these appeals is answered in favour of the assessee and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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