Deduction for telecommunication service is available in respect of ‘profit of eligible businesses’

DCIT Vs Vodafone India Ltd. (ITAT Mumbai) ITAT Mumbai held that in terms of non- obstinate clause used in section 80IA(2A), deduction for telecommunication services is available in respect of “profits of eligible business” and is not restricted to “profits derived from eligible business” as mentioned in section 80IA(1) of the Act. Facts- The main controversy in the appeal by Department is admissibility of assessee’s claim of deduction u/s 80IA(4) of the Income Tax Act, 1961 [in short ‘the Act’] on telecommunication services. Conclusion- The Tribunal finally concluded that in term...