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2018 (9) TMI 956 - ITAT BANGALOREEligibility to deduction of Profits in terms of Section 80-IA(4)(iii) - Approval as granted by the Ministry of Commerce and Industry, Govt. of India - Held that:- As decided in assessee's own case once approval was granted by the Ministry of Commerce and Industry, Govt. of India to the assessee, the CBDT was duty bound to notify the Industrial Park / STP for benefits under section 80 IA of the Act, without any further investigation as to whether the assessee had complied with the terms and conditions envisaged in the scheme. In the light of the decision in the case of Creative Infocity Ltd. (2012 (4) TMI 117 - GUJARAT HIGH COURT ), we find substantial merit in the contention of the assessee that the Notification to be issued by CBDT is only a formality once the approval is granted by the Ministry of Commerce & Industry, Govt. of India, and, therefore, hold that once the CBDT Notification is issued, the assessee is entitled to the benefits under section 80 IA (4)(iii) from the date of approval by Ministry of Commerce and Industry, Govt. of India, subject to the compliance of the terms and conditions specified therein. There is nothing to suggest that the benefits of the deduction under section 80 IA (4)(iii) of the Act are available only from the date of Notification by the CBDT. We, therefore, hold that the assessee is entitled for deduction under section 80 IA (4)(iii) of the Act for both Assessment Years 2007-08 & 2008-09; the two years under consideration - Decided in favour of assessee
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