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2021 (7) TMI 965 - HC - Income TaxDisallowance u/s 10B - whether the assessee has complied with the conditions prescribed under Section 10B? - HELD THAT:- The fact that the assessee has exported the goods through third party is not disputed. The substantial questions of law Nos.1 and 2 have already been answered by two division benches of this court in INTERNATIONAL STONES INDIA (P.) LTD [2018 (6) TMI 1478 - KARNATAKA HIGH COURT] and 'METAL CLOSURES (P.) LTD [2018 (6) TMI 1468 - KARNATAKA HIGH COURT] For the reasons assigned in the aforesaid decisions, the aforesaid substantial questions of law are answered in favour of the assessee and against the revenue. Whether, the Tribunal was justified in law in ignoring the decision of the Hon'ble Jurisdictional Karnataka High Court in the case of Tata Elxsi Vs. ACIT [2015 (10) TMI 634 - KARNATAKA HIGH COURT] and consequently passed a perverse order on the facts and circumstances of the case? - The tribunal while passing the impugned order has not taken note of decision of this court in 'TATA ELXSI VS. ACIT', [2015 (10) TMI 634 - KARNATAKA HIGH COURT] and therefore, the substantial question of law No.3 is answered in the affirmative.
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