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2008 (2) TMI 288 - HC - Income TaxDeduction to profit derived from export - Unit during the F.Y 1994-95 got converted into a 100 % EOU with the permission of the Department of Industrial Development – Revenue plea that exemption is not available to a unit formed by splitting up or the reconstruction of the business already in existence, not acceptable - exemption u/s 10B will be given from & after the date of approval of the unit as 100% EOU - Circular 1/05 dated 6-1-05, is clarificatory so same is binding on Department also
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