M/S. TATA ELXSI LIMITED,BANGALORE vs. DEPUTY COMMISSIONER INCOME TAX, CIRCLE-7(1)(1), BANGALORE

Bench: Shri George George K. & Shri Chandra Poojari

801A has to be determined on the total income computed after deducting all deductions allowable u/s.30 to 43D of the Act. Thus even for the A.Y 1997-98, in the case of Plastiblends (supra) and without reference to section 80AB, Hon'ble High Court rendered the decision after discussing the scope of profit and gains derived and held that

TATA ELXSI LIMITED ,BANGALORE vs. DEPUTY COMMISIONER INCOMER TAX, CIRCLE-7(1)(1), BANGALORE

Accordingly, the appeal filed by the assessee is partly allowed for statistical purposes