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2018 (11) TMI 1787 - HC - Income TaxExemption u/s 10A - organizational change - assessee has split-up and reconstructed the business already in existence; that the new business has been formed out of the plant and machinery previously used for the purpose - HELD THAT:- Admittedly the Unit has been functioning ever since the year 1996-97. This is the 8th Year of operation of the assessee. It is only this year there has been a disallowance by the Assessing Officer under Section 10A of the Act. Distinction as sought to be made therein is that in terms of Sub-section (1) of Section 10B of the Act, tax holiday period should be continuous and consecutive; that the period of ten years is referable to the undertaking and therefore, the transfer or change of the undertaking will not alter or increase the tax holiday period Of ten years. Therefore, the contention of the Revenue that if there is change of undertaking, tax holiday would stand restricted may not be correct. In so doing the earlier orders in case of Heartland KG Information Ltd. [2013 (9) TMI 375 - MADRAS HIGH COURT] And Sonata Software Ltd. [2012 (4) TMI 99 - BOMBAY HIGH COURT] were affirmed - Decided against revenue.
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