Case Law Details
Case Name : Dy. CIT Vs TA Infra Projects Ltd. (ITAT Hyderabad)
Appeal Number : ITA No. 14/Hyd/2016
Date of Judgement/Order : 16/02/2018
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Hyderabad
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DCIT Vs TA Infra Projects Ltd. (ITAT Hyderabad)
As amount disallowed under section 43B would become profits of business in the computation of income under the head “Profits and gains of business or profession”. Consequently, if the amounts disallowed were pertaining to the projects on which the claim under section 80-IA was made, the same had to be allowed as profits get increased to that extent. Therefore, AO was directed to examine the working of profits and allow the deduction.
FULL TEXT OF THE ITAT ORDER IS AS FOLLOWS:-
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