Disallowance of deduction u/s 10B of miscellaneous income


Quick Summary
This Income Tax Appellate Tribunal case concerns the disallowance of deductions under Section 10B for miscellaneous and interest income. The assessee argued that these incomes were profits of the undertaking and thus eligible for the deduction. However, the tribunal's decision, as confirmed by the CIT(Appeals), suggests these specific income types were not considered eligible for the Section 10B benefit.

Court :
ITAT New Delhi

Brief :
These two appeals by the assessee are directed against acommon order dated 30/03/2017 passed by the learned CIT(Appeals)-31, New Delhi [in short ‘the Ld. CIT(A)’] for assessment years 2010-11 and 2011-12 respectively. As common  issue in dispute are involved in both the appeals, same were hard together and disposed off by way of this consolidated order forconvenience.

Citation :
ITA 4469/DEL/2017

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