Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (7) TMI 108 - AT - Income TaxExemption U/s 10B denied - assessee in its return of income had claimed deduction under Section 10B in respect of export of computer software in its STPI unit since it is registered as a 100% EOU exporting software products - whether the assessee is eligible for deduction under Section 10B of the Act in the absence of requisite approval from the Board of Approval ratifying the permission granted by the Development Commissioner? - Held that:- Admittedly, the assessee had not obtained the required approval envisaged under Section 10B of the Act. The assessee's alternate claim raised in appellate proceedings before the learned CIT(A) was that it be allowed deduction under Section 10A of the Act, for which it had the required approvals, which was not accepted. With regard to the question as to whether the assessee can be allowed to shift its claim for deduction under Section 10B to Section 10A of the Act; in our considered view the decision rendered in the case of Valiant Communications Ltd.,[2013 (1) TMI 734 - DELHI HIGH COURT] allowing the change of the alternate claim of that assessee to consider its eligibility deduction under Section 10A in place of 10B of the Act, squarely covers the issue in favour of the assessee. We find that from a perusal of the orders of the authorities below, since this issue of the assessee's alternate claim for deduction under Section 10A of the Act has not been considered by them, we are of the view that in the interest of equity and justice, this issue be examined by the Assessing Officer afresh in the light of the findings and observations thereon in the decisions of the Hon'ble High Court of Delhi in the case of Valiant Communications Ltd. (supra) - Decided in favour of assessee for statistical purposes
|