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2015 (5) TMI 851 - AT - Income TaxDisallowance of exemption claimed u/s 10B - CIT(A) deleted the additions - Held that:- The facts of the present case are similar to the facts in the case of ITO Vs Efextra Esolutions Pvt. Ltd., New Delhi (2012 (8) TMI 895 - ITAT DELHI), which the ld. CIT(A) has followed while allowing the claim of the assessee. The assessee fulfilled all the conditions for 100% tax exemption u/s 10B of the Act which was earlier granted u/s 143(1) of the Act. The conditions laid down for exemption u/s 10A of the Act are similar to the exemption u/s 10B of the Act. Therefore, the AO should have allowed the claim of the assessee u/s 10A of the Act which was earlier claimed under a bonafide belief u/s 10B of the Act. We, therefore, do not see any valid ground to interfere with the findings of the ld. CIT(A) - Decided in favour of assesse.
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