2018 (12) TMI 1707

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..... s is so as even if the above amount are disallowed and added to the income the same would be exempted under Section 10A of the Act. This by following the decision of this Court in Commissioner of Income Tax Vs. Gem Plus Jewellery India Ltd. [ 2010 (6) TMI 65 - BOMBAY HIGH COURT] . As the impugned order of the Tribunal has only followed the binding decision of this Court, the proposed question does .....

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..... Hon'ble Tribunal is correct in holding that the assessee is eligible to claim deduction u/s 10A on enhanced profit due to statutory disallowance u/s. 40 (a)(ia)? 3. We find that the impugned order of the Tribunal has held that disallowance made under Section 40(a)(ia) of the Act would not affect the assessee's liability to tax. This is so as even if the above amount are .....

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