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2021 (9) TMI 473 - MADRAS HIGH COURTReopening of assessment u/s 147 - deductions claimed by the assessee u/s 10B on approval from the Software Technology Parks of India (STPI) based on the delegation granted to the directors of STPI by IMSC - order of ratification by the Board had not been furnished - HELD THAT:- Non obtaining of ratification certificate from the Board has not been attributed to the assessee as a default committed by the assessee. There may be various reasons, for which, the Board might not have granted a ratification. Nevertheless, the approval granted by the Authority, to whom the power had been delegated was valid and hence, as long as the said approval was not withdrawn, the assessee would be entitled to rely upon the approval and claim deduction under Section 10B of the Act, which is a special provision for earning of foreign exchange. In such circumstances, the reopening of assessment is without jurisdiction and bad in law. - Decided in favour of assessee.
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