Loss due to Recession in Software Industry after 9/11 incident cannot be ignored in computing ALP

IN THE ITAT HYDERABAD BENCH ‘B’ Infobahn Technologies Ltd. versus Deputy Commissioner of Income-tax IT Appeal No. 962 (Hyd.) of 2003 [Assessment year 2002-03] August 6, 2012 ORDER Saktijit Dey, Judicial Member  This appeal filed by the assessee is directed against order dated 8-9-2006 of CIT (A)-III, Hyderabad passed in ITA No.15/DC2(1)/CIT(A)-III/05-06 and it pertains to the assessment year 2002-03. 2. Though the assessee has raised 9 grounds, learned AR for the assessee at the outset submitted he wants to argue on ground Nos. 6(a) and 6(b) only. Considering the...