assessment
year 2010-11, for the purposes of computing deduction u/s. 10AA , the AO
excluded the expenditure incurred in foreign currency on communication ... income from
business for the purpose of computation of deduction u/s. 10AA. The AO
excluded them. The assessee , out of the advance paid
Asst Cit (Ltu) 2, Mumbai vs Reliance Industries Ltd, Mumbai on 28 September, 2018
IN
appeal the assessee has mainly challenged the disallowance of
deduction u/s 10AA amounting to Rs. 10,43,46,127/- relating to
profits derived ... erred in denying the deduction claimed by the
Appellant under section 10AA of the Act amounting to Rs.10,43,46,127
relating to profits
addition on account
of reduction of deduction u/s 10A / 10AA of Rs.29,11,22,361/- and
addition on account of loss on restatement ... exclusion of royalty income from eligible profits for
deduction u/s 10A / 10AA of the Act, the stand of the AO was
confirmed. As regards
EHTP') operations of the Appellant and tax holiday
claim under section 10AA of the Act amounting to Rs. 1,87,497 with
respect ... with respect to EHTP
operations and deduction under section 10AA at Rs. 4,08,873 as against
Rs.5,06,370 claimed by the Appellant
being
not allowable for claiming the benefit u/s 10AA of the I.T. Act.
ITA No. 49/JP/2016
Shri Vinit Kumar Bora ... well as on
facts in restricting the deduction claimed u/s 10AA at Rs.
5,56,975/- as against
delayed realisation of export proceeds.'
3.Recomputation of deduction u/s.10AA of the Act is the subject matter of the next ground ... after
claiming deduction of Rs.80,85,924/-u/s.10AA of the Act,that later on a revised return
of income was filed
upholding the reassessment order disallowing the
exemption u/s 10A and 10AA ... failed to appreciate that the deduction u/s 10A and 10AA of the Act
was allowed by the Ld. AO in the original assessment order
addition of Rs.
4,33,429/- by disallowing exemption u/s 10AA on account of
interest on FDR.
4. Under the facts and circumstances ... Ward- 6(4) ,Jaipur
in restricting the deduction u/s 10AA to Rs. 1,00,64,922/- as
against Rs. 1,06,11,921/- claimed
confirming the action of AO by disallowing the deduction claimed u/s. 10AA of the
Income-tax Act, 1961 (hereinafter referred ... declaring total income of
Rs.58,769/- after claiming deduction u/s. 10AA of the Act for ₹60,04,827/-. Thereafter case
was selected
