Case Law Details
ORDER
Dr. O.K. Narayanan, Vice-President
This appeal is filed by the assessee. The relevant assessment year is 1997-98. The appeal is directed against the revision order passed by the Commissioner of Income-tax-I at Coimbatore, under section 263 of the Income-tax Act, 1961. The revision order has been passed through the proceedings dated 2-3-2009.
2. The Commissioner of Income-tax has revised the assessment order for the main reason that the exemption given by the Assessing Officer to the assessee under section 10B(3) of the Act was erroneous and prejudicial to the interests of Revenue for the following reasons:-
1. Interest, lease rent and miscellaneous income, amounting in all to Rs. 116,60,631, (relatable to the B unit as a whole) which have been considered for computation u/s 80HH, resulting in the claim of Rs. 72,35,141/-, should be eliminated.
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