Deduction u/s.10B cannot be disallowed on ground of excess profits when the international transactions are held to be at arm’s length

Court :Chennai Bench of Income Tax Appellate Tribunal Citation :  M/s Tweezerman India Private Limited Vs ACIT [2010-TII-45-ITAT-MAD-TP] Brief : Deduction u/s.10B cannot be disallowed on ground of excess profits when the international transactions are held to be at arm’s length. The Chennai Bench of Income Tax Appellate Tribunal in the case of M/s Tweezerman India Private Limited Vs ACIT [2010-TII-45-ITAT-MAD-TP] has held that deduction of eligible profits under Section 10B cannot be disallowed on ground of excess profits where the international transactions have been held to be at arm’s ...