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2013 (9) TMI 883 - HC - Income TaxApplicability of section 10A(2)(i) of the Income Tax Act - Software Technology Park (STPI) Unit – the contention of the Revenue is that the assessee, which is already in existence cannot take the benefit of Section 10A of the Act - AO denied the exemption on the ground that assessee commenced its business even before the date of registration i.e., on 27.03.2002 - Held that:- The assessee took advantage of the scheme notified by the Government of India in the Ministry of Commerce and Industry of the "software technology park" and sought for registration as STPI on 2002 - In order to claim deduction, an undertaking in hardware technology park or software technology park must be in existence commencing its production on or after the 1st day of April, 1994. Given the fact that the assessee is not formed by splitting up or transfer to a new business and got registration even since 2002, the fact that it has been in existence ever since 1999, does not militate against the applicability of Section 10A of the Act. The case on hand falls under Section 10A(2)(b) of the Act - Section 10A(2)(i) of the Act shows that it has relevance to industry that has begun to manufacture or produce articles or things or computer software on or after the 1st day of April, 1994 – Decided in favor of Assessee.
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