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Deduction available u/s 10B towards profits of eligible units without setting off of b/f unabsorbed depreciation/ business loss
Case Law Details
- Case Name
- International Agricultural- Processing (P) Ltd. Vs ACIT (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2003-04
- Courts
- All ITAT, ITAT Chennai
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International Agricultural- Processing (P) Ltd. Vs ACIT (ITAT Chennai)
Facts- The assessee is engaged in the business of export of processed agricultural produce like gherkins, onions and other vegetables. The assessee company is a 100% Export Oriented Unit and has claimed deduction u/s.10B of the Income Tax Act, 1961 (The Act) from the AY 2000-01. A survey u/s.133A of the Act, was conducted in the business premises of the assessee on 17.11.2009. Consequent to the survey, the assessment has been re-opened u/s.147 of the Act. The assessments have been completed u/s.143(3) r.w.s...
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