Set back to Bajaj Auto: ITAT allows Deduction u/s 80 IA of Income Tax Act after deducting Depreciation from Profits of eligible undertakings [Read Order]

ITAT delivered a setback to Bajaj Auto by allowing the deduction under Section 80 IA of the Income Tax Act, 1961 only after deducting depreciation from the profits of eligible undertakings
Bajaj auto - ITAT - ITAT Mumbai - Income tax act - Income tax on bajaj auto - Income tax deduction on depreciation - TAXCSAN

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) delivered a setback to Bajaj Auto by allowing the deduction under Section 80 IA of the Income Tax Act 1961 only after deducting depreciation from the profits of eligible undertakings. During the assessment process, the Assessing Officer ( AO ) computed the deduction…

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