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2017 (11) TMI 1685 - HC - Income TaxExemption / deduction u/s 10AA - failure to fulfill the conditions of Section 10AA(4)(ii) - manufacture and export of jewellery - modernization of existing unit or new undertaking - Held that:- it is clear that the new unit in the name of M/s. Green Fire Exports has not been formed out of new funds, but it merely reflects shift of money from the original business i.e. M/s. Green Fire to the new one. - Following the decision in the case of M/s. Green Fire Exports [2017 (5) TMI 1571 - RAJASTHAN HIGH COURT], decided against the revenue.
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