TMI Blog2011 (11) TMI 427X X X X Extracts X X X X X X X X Extracts X X X X ..... to 01.04.1999, then the assessee would not be entitled to the said benefit. If the said 10 consecutive years from the date of production has not expired, prior to 01.04.1999, for the remaining unexpired period, he would be entitled to the benefit. On the ground that he had the benefit of unamended provision and the 5 years period has expired on the day amended provision came into force, he cannot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n, the tax benefit or tax holiday is now extended for a period of ten consecutive assessment years beginning with the assessment year relevant to the previous year in which the said undertaking begins to manufacture or produce articles or things or computer software, as the case may be. The object behind this amendment, which is extracted in the order of the Appellate Tribunal reads as under: - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Parliament felt that the tax holiday of 5 years is not having the desired result and therefore, they extended the benefit of tax holiday from 5 years to 10 years. If it is a case of extension from 5 years to 10 years, the unit, which had the benefit of 5 years automatically, should get the benefit of 10 years if other conditions are fulfilled. The other condition to be fulfilled is ten consecutiv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d provision and the 10 consecutive years would fall prior to 01.04.1999, then the assessee would not be entitled to the said benefit. If the said 10 consecutive years from the date of production has not expired, prior to 01.04.1999, for the remaining unexpired period, he would be entitled to the benefit. On the ground that he had the benefit of unamended provision and the 5 years period has expire ..... X X X X Extracts X X X X X X X X Extracts X X X X
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