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2019 (1) TMI 47 - AT - Income TaxDenial of deduction u/s 10B - alternate claim of assessee for deduction under section 10A - Held that:- Present appeal is squarely covered by the decision of Pune Bench of Tribunal in Approva Systems Pvt. Ltd. Vs. DCIT [2018 (3) TMI 1031 - ITAT PUNE] and we hold that the assessee is entitled to the alternate claim of deduction under section 10A of the Act. The matter is set aside to the file of Assessing Officer for the limited purpose of computing the said deduction in accordance with law. There is no merit in the order of Assessing Officer in holding that the assessee is not entitled to the said deduction under section 10A of the Act, since the assessee in written submissions had claimed the deduction under section 10B of the Act and not 10A of the Act. The assessee is at liberty to raise the issue before the Assessing Officer or CIT(A) and make fresh claim in this regard as held in CIT Vs. Pruthvi Brokers & Shareholders Pvt. Ltd. [2012 (7) TMI 158 - BOMBAY HIGH COURT]. Deduction u/s 10A before setting off of brought forward losses and unabsorbed depreciation - Held that:- This issue stands covered in favour of assessee by the ratio laid down by the Hon’ble Bombay High Court in CIT Vs. Black & Veatch Consulting Pvt. Ltd. [2012 (4) TMI 450 - BOMBAY HIGH COURT] and the aforesaid deduction u/s 10B is to be computed before adjusting brought forward unabsorbed losses / depreciation. Revenue has pointed out that the issue stands covered in the case of Himatasingike Seide Ltd. Vs. CIT [2013 (10) TMI 823 - SUPREME COURT]. As held in Himatasingike Seide Ltd. Vs. CIT (supra) is with relation to pre-amended provisions of section 10A of the Act. However, after the amendment it is not case of exemption but a case of deduction under section 10A of the Act, hence, the said proposition is not to be applied. - Decided against revenue
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