Profit eligible to deduction u/s 80IA(4)(ii) reducible due to revenue sharing

Gujarat Info Petro Ltd Vs DCIT (ITAT Ahmedabad) ITAT Ahmedabad held that as the revenue from selling of bandwidth business of the assessee is shared between the assessee and its parent company, profits eligible to deduction under section 80IA(4)(ii) of the Income Tax Act is reducible. Facts- The assessee-company is engaged in the business of selling internet bandwidth and other value added services like webhosting, designing, development and maintenance of websites etc. During the impugned assessment year i.e.Asst.Year 2008-09, the assessee had claimed deduction u/s. 80lA(4)(ii) of the Act amo...