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TMI Blog2017 (12) TMI 1360X X X X Extracts X X X X X X X X Extracts X X X X ..... of eligible and non-eligible units and a uniform practice has been followed by the assessee over a period of time for the purpose of claiming deduction under section 10B of the Act, no infirmity can be found in the impugned order passed by the Tribunal in holding that there was no warrant for computing deduction on the basis of turnover, instead of on actual basis - Tax Appeal No. 880 of 2017 With Tax Appeal No. 881 of 2017 - - - Dated:- 11-12-2017 - MS. HARSHA DEVANI AND MR. A.S. SUPEHIA, JJ. For The Appellant : Mrs Mauna M Bhatt, Advocate COMMON ORAL ORDER ( PER : HONOURABLE MS.JUSTICE HARSHA DEVANI) 1. Heard Mr. M.R. Bhatt, Senior Advocate, learned counsel for the appellant. 2. ADMIT . 3. The following ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts were also filed separately for each division. Thus, the assessee s method of charging the expenses was on actual basis, separately for each division in relation to Director s remuneration, bank charges, audit remuneration and internal audit fees. The assessee had allocated Director s remuneration of ₹ 24,00,000/- at 50% each between the Head Office and Blue Division from the initial year itself. The bank charges of ₹ 75,44,143/- had been allocated on actual basis as the assessee had accounted for bank charges based on the actual transaction to transaction relevant to the respective division. The audit remuneration of ₹ 60,000/- and internal audit fees of ₹ 69,000/- were claimed on the basis of actual payment made ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... facts as emerging from the record, it is clear that the assessee had claimed deduction under section 10B of the Act on actual basis, whereas the Assessing Officer and the Commissioner (Appeals) have held that the same is required to be claimed on the basis of turnover. Considering the fact that separate accounts have been maintained by the assessee in respect of eligible and noneligible units and a uniform practice has been followed by the assessee over a period of time for the purpose of claiming deduction under section 10B of the Act, no infirmity can be found in the impugned order passed by the Tribunal in holding that there was no warrant for computing deduction on the basis of turnover, instead of on actual basis. Proposed question [A] ..... X X X X Extracts X X X X X X X X Extracts X X X X
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