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2010 (12) TMI 857 - HC - Income TaxExemption u/s 10A - transfer of existing businss from ‘Non-SEZ Area’ to ‘Falta Free Trade Zone’ - splitting up or reconstruction of a business already in existence - held that:- the unit of the business of the assessee at SEZ at Falta is the new one and merely some old stocks of the raw materials were used in old business does not amount to reconstruction. It is to be found on evidence that materials were brought and with the running of the old business simultaneously at non SEZ. Under this circumstances, neither the learned Tribunal nor the Assessing Officer on the given fact correctly interpreted the reconstruction. - Decided in favor of assessee.
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