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2016 (7) TMI 317 - AT - Income TaxDeduction claimed u/s.10B denied - Held that:- The tone and tenor of the judgment of Tata Elxsi Ltd [2015 (10) TMI 634 - KARNATAKA HIGH COURT ] says that benefits u/s.10A of the Act could not be denied even to a manufacturer who was supplying goods to a STP unit which had exported and received foreign exchange. Considering this judgment of Hon’ble jurisdictional High Court, we are of the opinion that the matter requires a fresh look by the AO. The AO has to verify whether Exim Policy cited by Hon’ble jurisdictional High Court, while giving a finding that benefit u/s.10A would be available even to an assessee which was not directly into exports, is applicable to an assessee preferring a claim u/s.10B of the Act, as well. We therefore set aside the order of the authorities below and remit the issue regarding availability of deduction u/s.10B of the Act, back to the AO for consideration afresh in accordance with law. - Decided in favour of assessee for statistical purpose.
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