TMI Blog2011 (2) TMI 1415X X X X Extracts X X X X X X X X Extracts X X X X ..... to 100% Export Oriented Undertakings (EOU), where assessee is not exporter itself HELD THAT:- The issue stands covered in favour of the assessee by the decision of DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-11 (4) , BANGALORE VERSUS INTERNATIONAL STONES INDIA PVT. LTD. [ 2010 (3) TMI 1106 - ITAT BANGALORE] in which under similar circumstances it has been held that even the third party exports are eligible for the benefit u/s 10B. The third party exports are also considered as export when such exports are made 100% EOU which manufactures the articles or things are received or brought into in convertible foreign exchange, either by the 100% EOU itself or through the third party exporter then such exports amounts to export turnover and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reinafter referred to as 'the Act' for short) on its profits amounting to ₹ 3,55,16,987/-. The assessee exports goods and in the sales invoices it described the exported goods as processed dimensional rough or crude granite . Thus, the granite has been processed into blocks and dressed by the assessee and these were exported but still they were described as rough block or crude block in sales invoices, which, according to the Assessing Officer, implied that the same had not been polished. Therefore, he was of the opinion that the granite is polished after they are cut into slabs and tiles and not when they are a block polishing results in a smooth end product. But, under similar circumstances, the assessee was allowed the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and evidence available before us. We are in agreement with the ld. CIT(A) that there is no change in the business of the assessee from earlier years and similar type of export is being done in this year too. Therefore, assessee becomes entitled to deduction u/s 10B under identical facts and circumstances. Therefore, by respectfully following the Tribunal order in question, we confirm the impugned finding and dismiss the grounds raised in this respect. 4. The second issue of this appeal contained in Ground Nos. 5 6 is regarding allowing deduction u/s 10B on sales to 100% Export Oriented Undertakings (EOU) where the assessee is not the exporter itself. 5. Again, this issue stands covered in favour of the assessee by the decision of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
