Eligible business profits to be computed as per law & not as per treatment by assessee in its books

Brief of the case:

• The ITAT Bench Cochin held that the assessee would be entitled to deduction u/s 80 IB(7) if its incomes are derived from eligible business irrespective of the manner in which the entries in the books of account are maintained.
• Further , in the present case the “other income “ mentioned in books of assessee is not earned from any other commercial activity carried on by the assessee and the source of the same continues to be the business profits from the hotel business.
  

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