TMI Blog2009 (11) TMI 949X X X X Extracts X X X X X X X X Extracts X X X X ..... rned income from the said business at ₹ 11,75,166/-, which was claimed for exemption under section 10A of the Income Tax Act, 1961. The A.O. did not allow the exemption claimed by the assessee under section 10A of the Act on account of the following reasons :- (1) The appellant's original name for the previous year was Frostwaves P. Ltd., which was approved by Software Technology Parks - India whereas Tor the assessment year under consideration there is a change in the name which is under name and style of Prodigy Infosoft P. Ltd. (2) The appellant company has not fulfilled the required conditions of import of Rs, 10 lacs and purchase of indigenous goods. (3) There is no corresponding expenditure. (4) The business of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as also denied. In the previous assessment year when the name of assessee-company was Frostwaves P. Ltd., which is now changed as Prodigy Infosoft Pvt. Ltd. With regard to the change of name, necessary procedure with the Registrar of Companies was followed. It was also submitted that the A.O. denied the exemption based on several filmsy grounds, which is mentioned in the assessment order. Before the Learned Commissioner of Income Tax(Appeals), the assessee also filed the written submissions which is re-produced by the Learned Commissioner of Income Tax(Appeals) in the impugned order. The said written submission reads as under :- The appellant company is registered with Software Technology Parks of India. (STPl) and approved as 100% Expo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cation by Frostwaves Pvt Ltd. (The erstwhile company) dated 07-03-2000 with Software Technology Park, Gandhinagar, which is an autonomous society under Ministry of Information and Technology, Govt. of India (Pago 24 to 34). (b) Approval by Software Technology Park - Govt of India dated 27-03-2003 (page 35 to 43). (c) Approval by Registrar of Companies, Gujarat for change of name of the company from Frostwaves Pvt. Ltd. to Prodigy Infosoft Pvt. Ltd. Also permission accorded by STPI for change of name (page 44 to 45A). (d) Asstt Order for A.V. 2001-02 allowing claim u/s.10A dated 2^-02-2004 (page 46-47). (e) Copy of declaration of Software export through data communication link made by the company in. SOFTEX from to Software Techn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ine activities of the assessee-company. The claim has been rejected only on the basis of assumptions and inferential presumptions and with prejudicial mind. All the transactions of sales are duly recorded in the books of accounts as well as proved to be genuine by complying with all the laid down proceedings with various government authorities. It was also submitted that for the assessment year 2001-02, the assessment was framed under section 143(3)(i) of the Income Tax Act on 28.02.2003, wherein on going through the various details and other evidences furnished, it was held that the assessee has fulfilled the conditions for its claim made under section 10A of the Income Tax Act, 1961. After considering the aforesaid submissions, for the de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and not exported the same, ft is also seen that the appellant has earned foreign exchange. Therefore, various reasons given by the assessing officer could not justify the denial of the exemption. 3.2.1. It is seen that similar exemption u/s, I0A has already been granted by the assessing officer in the appellant's own case for the A.Y. 2001-02 vide his order u/s- .143(3) dated 28-02-2003. The only variation tor the assessment year under consideration is with regard to the change of the name which has lone in accordance to the procedure laid down by the Registrar of Companies. The A, O., however, not established the fact that the income from some sources have been brought to appellant's hands to make claim u/s.10A of I. T. Act The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AC 000830 of M/s. Prodigy Infosoft Pvt. Ltd., Ahmedabad by Software Technology Parks of India, Gandhinagar, Gujarat vide letter dated 26.07.2001 addressed to the Joint Controller, ECD, RBI, Ahmedabad certifying the various documents including description sheet of software for export. The ld. counsel of the assessee submitted that in respect of each and every item of exports, such type of certificate is available in the paper book. Change of name of the assessee-company is duly approved by the Registrar of Companies. Exemption under section 10A in the immediately preceding assessment year i.e. assessment year 2001-02 was granted by the A.O. himself. The mere fact that there is change of name in this year is no ground to deny the exemption. I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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