order passed u/s 263 with the direction to the AO to arrive at the
correct deduction u/s 33AB after giving the assessee ... order u/s 263 has also considered the computation of the
deductible amount under section 33AB and he did not make any adverse
comment
intended appeal by the revenue is whether the tribunal correctly applied
section 33AB(7) of the Income Tax Act, 1961?
Some complications in this case ... light of the above facts, there is no doubt that whether
section 33AB(7) of the said Act has been correctly applied by the tribunal
business income for the purpose of the benefit under section
33AB . The two judgments, cited by Mr. Majumdar, also
4|Page ... Tribunal cannot be accepted is that
the benefit under section 33AB can be obtained provided the
assessee has made the deposits with the national bank
income and accordingly eligible for the purpose
of computation of deduction u/s 33AB of the Income Tax Act, 1961
which is applicable
case no. 281/CIT(A)-13/Cir-43/Kol/2014-15 involving proceedings u/s
143(3) of the I.T Act, 1961 ( in short ... application of Rule 8 of the Rules and the deduction u/s. 33AB of the
Act should be made from the composite income
1414/Bang/2019
Page 2 of 9
weighted deduction to the assessee u/s. 35(1)(ii) of the Income ... loss (38,19,775)
Gross total income 4,92,34,685
Deduction u/s 80G (12,00,00, 000 )
80TTA
