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2016 (2) TMI 733 - ITAT DELHI

2016 (2) TMI 733 - ITAT DELHI - TMI - Entitlement to claim u/s 10A - Held that:- The first appellate authority proceeded to consider the allegations of the AO and held that the AO has not specified which of the stipulated and necessary conditions of section 10A of the Act has not been met or complied with by the assessee. Regarding the non-preparation or non-filing of the Sales Tax Form, it was held by the ld. CIT(A) that this was procedural issue between the STPI UNIT and STP office and does no .....

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A) rightly followed the principal of consistency and properly and correctly following the directions of the Tribunal, the first appellate authority properly considered and adjudicated the issue and after taking into consideration the conditions precedent for grant of exemption u/s 10A of the Act held that the assessee is entitled to exemption u/s10A of the Act. We are unable to see any valid reason to interfere with the impugned order and thus we uphold the conclusion of the first appellate auth .....

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in relation to the ld. CIT(A) s order allowing the assessee s claim u/s 10A of the Income-tax Act, 1961 [ the Act for short]. 3. We have heard the rival submissions and have perused the relevant material on record. At the very outset, it is pertinent to note that in the first round of proceedings ITAT É Bench Delhi in Revenue s appeal in ITA No. 4270/Del/2011 for A.Y 2008-09 vide order dated 29.06.2012 restored the issue to the file of the ld. CIT(A) for a fresh consideration so as to de .....

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Dt.23/12/2010 that at the time filing of IT Return, instead of mentioning section 10A, section 10B was erroneously referred therein. However the deduction claimed read with Rule 16D and form no.56F was u/s 10A of the Act. The appellant is an STPI registered unit and deduction was claimed in Form No. 56 F under Rule 16D. STPI registered units are considered under sec 10A and not u/s 10B. Deduction u/s 10A is claimed in Form No. 56F under rule 16D. Therefore, it is evident that deduction was clai .....

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ovember 2004. ii. As per Section 10A(1), the deduction u/s 10A is allowable for a continuous period of 10 years beginning with the A.Y. in which the undertaking begins to produce computer software. In the instant case, the activities of the unit commenced in January 2005 and claim for A.Y.2008-09 falls within the first 10 years. iii. As per sub section 2(i)(b) of section 10A the unit is required to commence production of computer software after 1st April 1994 in any software technology park. The .....

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are technology park approved. Green Card was issued by the STPI Authority on 31st January 2005 valid upto 30th January 2006, thereafter the said green card was renewed upto 31st Dec 2007. The argument of the A.O. that appellant was not in a possession of valid green card as on 31/03/2008, is of no relevance because the green card was valid upto 31/12/2007 and the export transaction was upto the month of September 2007, as is evident from the last invoice dt. 10/09/2007. iv. As per section 10A(2) .....

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e within 6 months from end of the previous year. From the copy of statement giving export sales and collection of proceeds in foreign exchange with copies of FIRCs it is evident that all sale proceeds of ₹ 85.96 lakhs were collected much before the prescribed time limit. From the invoices issued by the appellant, audit report in Form No. 56F and certificate of Foreign inward remittance issued by the concerned bank it is evident that the collection of proceeds in foreign exchange are from e .....

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rm 56F is filed as specified under rule 16D of IT Rules 1962. ix. As per section 10A(8) of the Act, return of income is filed within the time limit specified u/s 139(1) of the Act on 29.08.2008. 3.3 From the above it is evident that all the conditions stipulated in Sec 10A are fulfilled in the instant case. The A.O. stated that all the necessary conditions for claiming deduction u/s 10A or 10B have not been strictly followed. However, the A.O. has not specified which of the conditions stipulated .....

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/s 10A, in case the conditions thereof are satisfied. The appellant submitted that other reports i.e. annual and monthly progress reports were duly filed with the STP office which did not raise any objections or cancel its registration and in fact the delay in filing of Softex Forms has also subsequently been condoned on the basis of permissions from RBI. Therefore, considering the totality of the facts of the case and the provisions of law in this regard, I am of the view that there was no just .....

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56F u/s 16D of the I.T. Rules, 1962 which was also clarified by the assessee vide letter dated 23.12.2010. Thus, the conclusion of the first appellate authority is quite correct in this regard. 5. Further, from the operative para 6 of the Tribunal order, we note that the matter was restored to the file of the ld. CIT(A) for considering the matter afresh so as to decide whether the assessee is entitled to exemption u/s 10A of the Act and if yes, whether conditions precedent for grant of this exe .....

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