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2016 (3) TMI 740 - ITAT PUNEDeduction under section 10B - - STPI unit - Held that:- Admittedly, the assessee before us is 100% EOU unit and has been set up under the STPI Scheme and has requisite approval from STPI. However, for availing deduction under section 10B of the Act, the assessee should be 100% EOU set up as specified under Explanation 2(iv) below section 10B of the Act, which defines 100% EOU as an undertaking so approved by the Board appointed in this behalf by the Central Government under section 14 of the Industries Development and Regulation Act, 1951. The assessee admittedly is not so registered or approved by the Development Commissioner, which are ratified by Board of approval. In view of the ratio laid down by the Hon'ble Delhi High Court in CIT Vs. Regency Creations Ltd. (2012 (9) TMI 627 - DELHI HIGH COURT) we hold that the assessee is not entitled to the said claim of deduction under section 10B - Decided against assessee Alternate plea of the assessee in respect of allowability of deduction under section 10A of the Act in place of section 10B - Held that:- The issue before us is identical to the issue before the Tribunal in Clarion Technologies (P.) Ltd. Vs. DCIT (2014 (11) TMI 141 - ITAT PUNE) and following the same parity of reasoning, we deem it fit to remand the issue back to the file of Assessing Officer to verify the claim of the assessee for deduction under section 10A of the Act in accordance with law. - Decided in favour of assessee for statistical purposes.
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