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2011 (4) TMI 621 - AT - Income TaxDeduction u/s 10A - The assessee company is registered as a 100% Export Oriented Unit (EOU) for manufacture and export of computer software for export purposes - The assessee being eligible for 100% tax holiday u/s 10A of the Income Tax Act, 1961, has exercised this option not to claim this exemption for this year in accordance with provision of Section 10A(7)of the Act - It is thus clear that it cannot be said that the assessee had opted not to take the benefit of Section 10A of the Act - On the contrary, it was specifically mentioned that the assessee was eligible for 100% tax holidays period under Section 10A of the Act but in the year in question since there were losses, the assessee was not claiming the exemption in that particular year - Moreover, when the assessee has been given this benefit in some of the years of the same tax holiday period, there is no reason to deny the assessee benefit in these three assessment years - Thus, decided in favour of assessee.
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