TMI Blog2014 (2) TMI 742X X X X Extracts X X X X X X X X Extracts X X X X ..... accordance with law – thus, the matter remitted back to the AO for fresh adjudication – Decided in favour of Assessee. - ITA No. 483/HYD/2013 - - - Dated:- 13-9-2013 - Chandra Poojari And Asha Vijayaraghavan, JJ. For the Appellant : Shri S Rama Rao For the Respondent : Smt Maya Maheswari ORDER:- PER : Asha Vijayaraghavan This appeal preferred by the assessee is directed against the order of CIT(A)-V, Hyderabad dated 05/12/2012 for the assessment year 2009-10. 2. The appellant herein is a company in which public are not substantially interested and is an exporter of software. It is registered as 100% EOU and it eligible for deduction u/s 10B of the LT. Act. Accordingly, it filed its return of income admitting the inco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty. However, the Assessing Officer negatived the claim of the assessee and disallowed the deduction claimed of Rs.1 ,60, 10,281/-. 6. In this connection, the appellant submitted that in an identical case, the Hon'ble ITAT, Bench "A", Hyderabad in the case of Smt. K. Sudha Rani, Hyderabad in ITANo.1750/Hyd/08 vide order dated 30.10.2009 categorically held that approval of 100% EOU by the Board and STPI is one and the same and the assessee is eligible for exemption u/s 10B of the LT. Act. While allowing the appeal, the Hon'ble ITAT relied on the decision of the Supreme Court in the case of Bajaj Tempo Ltd. Vs CIT reported in 196 ITR 188. A copy of the order of the Hon'ble ITAT has submitted for kind perusal of the Hon'ble Commissioner of In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... earned CIT(A) erred in confirming the action of the Assessing Officer in levying interest u/s 234B of the IT Act. 9. The grievance of the revenue authorities is that as the assessee has not furnished necessary approval of the Board as required under the Act, the deduction u/s. 10B cannot be granted. 10. We have heard the arguments of both the parties, perused the record and have gone through the orders of the authorities below. We also find support from the decision of the Delhi High Court in the case of CIT vs. Valiant Communications in ITA.No. 2002/2010 in Civil Miscellaneous Petition No. 12 of 2013 in which the facts are similar to that of this case. In that case, the assessee had claimed deduction under section 10B, whereas, they h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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