Principal Commissioner of Income Tax-5 vs. M/s. VBC Industries Limited
In the result, we do not find any
ITTA/559/2015HC Telangana16 Feb 2016
Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY
Section 10Section 260Section 260A
disallowed the
assessee's claim for deduction under Section 10B of the
Act.
5.
The Assessing Officer inter alia held that
assessee is entitled to deduction under Section 10B of
the Act only after verification and the contention of the
assessee that old machinery from FFIPL was transferred
to it only in April 2007 does not deserve acceptance