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2016 (2) TMI 824 - AT - Income TaxClaim of deduction u/s 10B - Assessee had claimed deduction u/s 10B on the ground that it has been registered and approved under the STP scheme of the Government of India as 100% EOU for the period of 5 years effective from 7.3.2007 to 6.3.2012 - Held that:- In terms of Explanation II(iv) to Sec. 10B, 100% EOU has been defined as an undertaking which has been approved as 100% EOU by the Board appointed in this behalf by the Central Government in view of Sec. 14 of Industries (Development & Regulation) Act, 1951 and rules made thereunder. The Assessee’s unit has not been approved by the said authority. Thus the Assessee is not eligible for claim of deduction u/s 10B and accordingly, the decision of the ld. CIT(A) on this score is reversed and the ground raised by the Revenue is treated as allowed. Eligibility of deduction u/s 10A - Held that:- We are inclined to accept the additional plea raised by the ld. Counsel before us, that its claim for eligibility of deduction u/s 10A needs to be examined afresh. Accordingly, we remit the matter to the file of the Assessing Officer to see, whether the Assessee is eligible for claim of deduction u/s 10A or not and examine the eligibility criteria of the Assessee and whether the conditions laid down u/s 10A stands fulfilled and accordingly decide this issue afresh and in accordance with the provisions of the law. Thus, with this direction the appeal of the Revenue is treated as partly allowed for statistical purpose.
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