TMI Blog2015 (11) TMI 121X X X X Extracts X X X X X X X X Extracts X X X X ..... ld. First Appellate Authority in the form of Circulars, notifications, letter with respect to delegation of power to the Director STPI/IMSC with respect to granting permission, which were forwarded for the comments of the AO under Rule 46A of the Rules. The Assessing Officer was of the view that green card is merely a concession, provided by the Government, to set up units in STP zones to avail certain facilities on priority basis and was of the view that for claiming deduction u/s 10B, the assessee is expected to obtain approval of CEO of STPI, as required in CBDT instructions dated 18/10/2010. The assessee filed further communication, pursuant to the report of the Assessing Officer. Again, remand report was sought from the Assessing Offic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntical facts are existing which were available for A.Y. 2008-09, therefore, it is not open to the department to deny claimed deduction. - Decided in favour of assessee. - ITA No. 6525/Mum/2012, CO No. 276/Mum/2014 - - - Dated:- 19-10-2015 - Joginder Singh, JM And Rajesh Kumar, AM For the Appellant : Shri Vijay Kumar Soni-DR For the Respondent : Shri Bhardesh Doshi ORDER Per Joginder Singh ( Judicial Member ) The Revenue is aggrieved by the impugned order dated 31/08/2012 of the ld. First Appellate Authority, Mumbai. The assessee has also preferred Cross objection. 2. First, we shall take up appeal of the Revenue, wherein, only ground agitated by the department pertains to deleting the disallowance of deduction u/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... athematical and statistical contents. The assessee company develops computer software broadly in the areas of business financial services and insurance sector in market risk management, credit risk management, operational risk management, software for implementing measuring, controlling, reporting and managing risk and regulatory compliance with the Basel-2 capital adequacy accord, production and implementation of simulation software for artificial FX market creation for training purposes with an object to teach the hedging strategy and managing FX exposure in real time, development of computer software for risk management of treasury activities and used several artificial intelligent tools and technologies such as neural networks, genetic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the ld. Assessing Officer, necessary details like STP registration, green card, agreement of software export with STPI, quarterly/annual performance report were furnished by the assessee. The Assessing Officer has not disputed the activities of software development of the assessee. Certain additional evidences were filed before the ld. First Appellate Authority in the form of Circulars, notifications, letter with respect to delegation of power to the Director STPI/IMSC with respect to granting permission, which were forwarded for the comments of the AO under Rule 46A of the Rules. The Assessing Officer was of the view that green card is merely a concession, provided by the Government, to set up units in STP zones to avail certain facilitie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1200 and 1269 of 2010). The Hon'ble High Court in this case held that the relief granted in the first Assessment year in which claim was made and accepted then the Income Tax Officer cannot withdraw the relief for subsequent years, more specifically, so, when the Revenue has not even suggested that there was any change in the facts warranting a different view for subsequent years. We find that there is no change in facts and identical facts are existing which were available for A.Y. 2008-09, therefore, it is not open to the department to deny claimed deduction. We further observe that in the absence of rectification from IMSC, no green card can be issued by the designated officer. It is just like a single window system and to avoid cons ..... X X X X Extracts X X X X X X X X Extracts X X X X
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