Without any basis AO cannot shift profit from trading to manufacturing activity to disallow deduction u/s 80IE

Aristo Industries Vs ITO (ITAT Kolkata) It is not in dispute that the assessee had maintained separate books of accounts for trading activity and manufacturing activity. We find that the assessee had claimed deduction u/s 80IE of the Act only in respect of profits derived from manufacturing activity only. It is not in dispute that the profits derived from manufacturing activity of the assessee is eligible for claim of deduction u/s 80IE of the Act. The Audit Report in Form No. 10CCB was made available to the revenue for supporting the claim of deduction u/s 80IE of the Act. It is not in disput...