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Deduction U/s. 10AA cannot be denied in in 3rd year by examining factors which were required to be seen in first year
Case Law Details
- Case Name
- Macquarie Global Services Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Delhi
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Macquarie Global Services Vs DCIT (ITAT Delhi)
Once the claim of deduction u/s 10AA has been accepted in the first year of the operations and also in the second year, then in the third year same cannot be withdrawn by examining the factors which were required to be seen in the first year of the claim. Thus, on this ground alone, we hold that the AO cannot deny the claim of deduction u/s 10AA with the assessee in this year and hence is directed to allow the same.
Even on the merits, we find that none of the allegation which has been made by the AO appears to be correct, because if he see the ex...
