TMI Blog2014 (6) TMI 775X X X X Extracts X X X X X X X X Extracts X X X X ..... tal income where section 10A deduction is involved would comprise by computing profits and gains derived by the unit and in this process the unabsorbed deprecation which is not part of the deprecation of the impugned assessment year is not to be factored, then the deduction as computed will be available for carrying out set off of unabsorbed depreciation - Section 10A deduction is to be done u/s 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of manufacturing of premier quality socks and exporting the same to foreign countries. The manufacturing unit of the assessee was registered as 100% export oriented unit. The assessee has started its manufacturing activities in the assessment year 1997-98 and the year under consideration is the 10th year and hence its manufacturing profits were eligible for deduction u/s. 10B of the Act. During ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and gone through the facts of the case as also decisions relied upon on behalf of the taxpayer. We find that a similar issue was considered in the case of Ford Business Service Centre L. Ltd (supra) wherein the Tribunal held as under:- 7. Coming the facts of the case before us, the assessee has claimed deduction under s. 10B of the Act. Once when deduction under s. 10B has to be allowed, the t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uction and not for the earlier years of deduction. Accordingly, the claim of the assessee is allowed. 8. The aforesaid view has also been taken in other two decisions. Enercon Wind Farms (Krishna) Ltd and Changepond Technologies P. Ltd (supra) in the context of provisions of section 10B and 10A of the Act respectively. Recently, the Bangalore Bench of the ITAT in the case of KPIT Cummins Infos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts and gains from eligible business and without factoring unabsorbed depredation. In the light of the aforesaid decisions, particulars when no contrary decision has been brought to our notice by the Ld. DR we have no alternative but to upheld the findings of the Ld. CIT(A). Consequently, ground no. 1 of the appeal is dismissed. In view of the above, we are not inclined to interfere with the or ..... X X X X Extracts X X X X X X X X Extracts X X X X
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