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2014 (2) TMI 884 - AT - Income TaxClaim of deduction u/s 10B - Alternative deduction u/s 10A - Assessee is running the business of software development and export is a 100% Exported Oriented Unit – Held that:- The assessee has not been approved as a 100% EOU by the Board appointed in this behalf by the Central Government in exercise of powers conferred by section 14 of the Industries (Development and Regulation) Act, 1951 and rules made there under - The assessee having not fulfilled this pre-condition as provided under explanation-2 (iv) of section 10B, it is not entitled to avail deduction u/s 10B of the Act. Deduction u/s 10A of the Act – Held that:- For the entitlement for deduction u/s 10A as such no approval of the Board is necessary - The only requirement for claiming exemption u/s 10A of the Act is the assessee is required to submit a certificate from the auditor in form 56F as per section 10A(5) of the IT Act read with Rule 16D of Income-tax Rules - the contention of the assessee is accepted that there was no occasion on his part to submit the auditor’s certificate in Form 56F before the CIT (A) - Form 56F submitted is allowed as an additional evidence – the matter remitted back to the AO for fresh adjudication – Decided in favour of Revenue.
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