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2017 (12) TMI 1359 - HC - Income TaxSection 10B(1) eligibility - Held that:- The exemption is made available to a 100% export-oriented undertaking and the same is available for ten years, beginning with the assessment year relevant to the previous year in which manufacturing is commenced. In the present case it cannot be said that the assessee, a 100% export-oriented unit is eligible from the year in which they commenced manufacture, since in that relevant year the assessee was not a 100% export-oriented unit. The benefit being conferred only on a 100% export-oriented unit, the exemption could commence only from its certification, as such a unit and if there is no manufacture at the time of certification, from the time of commencement of manufacture. The benefit conferred is for the activity of export and if it is not related to the time from commencement of manufacture then a registered export-oriented unit, if for any reason commences manufacture later, then it could lead to the benefit being reduced since the income derived will only be on manufacture and for the period in which there is no business, it would be illusory. As has been found in Annexure-D judgment, there is no requirement that the export-oriented unit be newly established. The benefits have to be, hence, applied from the date of commencement of the export-oriented undertaking, which in the present case coincides with the manufacturing too. On the above reasoning, we answer the question in favour of the assessee
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