Case Law Details
BA Continuum India Private Limited Vs ITO (ITAT Mumbai)
Introduction: In a significant decision, the Income Tax Appellate Tribunal (ITAT) Mumbai addressed the issue of deduction under Section 10A of the Income Tax Act. The case, BA Continuum India Private Limited Vs. ITO, revolved around whether this deduction should be computed before or after setting off business losses and depreciation. This article provides a detailed analysis of the ITAT’s ruling in this matter.
Detailed Analysis:
1. Background of the Case: BA Continuum India Private Limited, the assessee, challenged an order dated December 16, 2010, passed by the Commissioner of Income-tax (Appeals)-19, Mumbai, for the assessment year 2006-07. The key contention was the eligibility of deduction under Section 10A of the Income Tax Act.
2. Grounds of Appeal: The grounds raised by the assessee included:
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