The Commissioner of Income Tax IV vs. M/s Matrix Power Pvt Ltd.,

disallowed, as the income of this unit was exempt from tax. In response, the Assessee furnished its detailed submissions, which, however, were rejected by the AO who was of the opinion that as Section 10B was in Chapter-III of the Act, under the heading ―incomes which do not form part of total income‖, legislative intent was clear that such

Sri Rajesh Rawtani vs. The Income Tax Officer

The appeals are disposed off in the above

Bench: P.SAM KOSHY,SUDDALA CHALAPATHI RAO