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2014 (7) TMI 1127 - ITAT HYDERABADEntitlement to exemption under section 10B - whether deemed exports are also exports for the purpose of computation of deduction under section 10B and the usage 'export of goods' cannot be construed as 'export out of India'? - Held that:- In the absence of any decision to the contrary brought to our notice, respectfully following the binding decision of the jurisdictional High Court in Ram Babu and Sons [1996 (5) TMI 61 - ALLAHABAD High Court] which squarely covers the issue against the assessee and clearly holds that for the purpose of the Income-tax Act, the law neither contemplates nor recognises such "deemed exports", we find no infirmity in the impugned order of the Commissioner of Income-tax (Appeals), in sustaining the disallowance made by the Assessing Officer, out of the exemption under section 10B of the Act claimed by the assessee. We accordingly uphold the same, rejecting the grounds of the assessee on this aspect. also see Commissioner of Income-Tax Versus Silver And Arts Palace [2002 (12) TMI 12 - SUPREME Court] - Decided against assesse.
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