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2016 (1) TMI 577 - AT - Income TaxEligibility for section 10B deduction - Held that:- The assessee has converted its undertaking to that from DTA to 100% export oriented undertaking. This crucial fact has gone unrebutted. There is further no dispute that the Board Circular No.1/2005 dated 06.01.2005 already treats such an undertaking to be eligible for section 10B deduction on getting approval as 100% export oriented undertaking. We draw support from all of the above stated facts and case law as well as the Board’s Circular to conclude that the CIT(A) has rightly held assessee’s section 10B deduction claim allowable as per law. - Decided in favour of assessee
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