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2013 (12) TMI 1265 - AT - Income TaxExemption u/s 10A – The assessee earned profit in STPI unit whereas incurred loss in non-STPI business - Held that:- Following CIT v. Yokogawa India Ltd. [2011 (8) TMI 845 - Karnataka High Court] - “Total income” used in Section 10A was to be understood as the total income of the STPI unit, which was clear from the first proviso to Section 10A(1) which made a reference to the total income of the undertaking and not to the total income of the assessee - Assessee was entitled for claiming deduction considering its STPI unit separately - CIT fell in error in concluding that giving-effect order suffered from any error prejudicial to the interests of Revenue – Twin conditions for invoking power of CIT under Section 263 of the Act were not satisfied - Decided in favour of assessee. Payment towards gratuity scheme of LIC – Held that:- Following assessee’ own case for A.Y. 2002-03 [2007 (6) TMI 273 - ITAT MADRAS-C] - The assessee company has a scheme with the LIC of India and the payment is made to LIC of India - LIC of India is an approved institution for maintaining gratuity funds – The issue was restored for fresh examination. Employee’s contribution to ESI and PF – Held that:- Following CIT v. Alom Extrusion Ltd. [2009 (11) TMI 27 - SUPREME COURT] - Amendment to Section 43B made by Finance Act, 2003, would act retrospectively with effect from 1st April, 1988 – Amount should be paid during the year irrespective of the fact that the contribution was deposited after due date - Decided against Revenue.
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