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TMI Blog2018 (1) TMI 1557X X X X Extracts X X X X X X X X Extracts X X X X ..... ribunal has allowed the Appeal of the Respondent Assessee by following the order of its co ordinate bench in respect for assessment year 2002 -03 by applying its rationale to disallow the allocation of head office expenses to profits derived from 100 percent export oriented units falling under Section 10B of the Act. The same reasoning was extended to hold that the head office expenses cannot be allocated out of profits derived from units claiming deduction under Section 80IA and 80IB of the Act. Revenue is unable to show why the adoption of the reasoning to disallow allocation of profits of Section 10 B units to head office expenses cannot be extended to profits of Section 80 IA and 80 IB units. Appeal of the Revenue from the order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated:- 9-1-2018 - M.S. Sanklecha And Riyaz I. Chagla, JJ. Mr. Tejveer Singh, for the Appellant. Mr. J.D. Mistri, Senior Counsel, a/w Mr. Madhur Agrawal, i/by Mr. Atul Jasani, for the Respondent. ORDER : 1. These Appeals under Section 260A of the Income Tax Act, 1961 ( the Act for short) challenge the order dated 1 August 2014 passed by the Income Tax Appellate Tribunal ( Tribunal for short). These Appeals relate to the assessment year 2004 05 and 2003 04 respectively. 2. The Revenue has urged the following questions of law in both the Appeals for our consideration: 1. Whether on the facts and circumstances of the case and in law, the Tribunal was right in allowing t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not give rise to any substantial question of law. Thus, not entertained. 4. Re. Question 3: (a) We note that the impugned order of the Tribunal has allowed the Appeal of the Respondent Assessee by following the order of its co ordinate bench in respect for assessment year 2002 -03 by applying its rationale to disallow the allocation of head office expenses to profits derived from 100 percent export oriented units falling under Section 10B of the Act. The same reasoning was extended to hold that the head office expenses cannot be allocated out of profits derived from units claiming deduction under Section 80IA and 80IB of the Act. (b) The Revenue is unable to show why the adoption of the reasoning to disall ..... X X X X Extracts X X X X X X X X Extracts X X X X
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