9911796707
TMI Blog2012 (10) TMI 1120X X X X Extracts X X X X X X X X Extracts X X X X ..... the revenue is directed against the order passed by the CIT(A), Guntur and it pertains to the assessment year 2008-09. Eligibility to claim deduction u/s 10AA of the Income-tax Act, 1961 (hereinafter referred as an `Act') is the subject matter of dispute before us. 2. Facts necessary for the disposal of the appeal are stated in brief. The assessee company is engaged in the business of trading in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion no.4/2006 issued by the Department of Commerce, Ministry of Commerce & Industry clarifies that the benefits u/s 10AA of the Act will exclude trading other than trading in the nature of re-export of imported goods. The A.O. was however, of the opinion that the activity of import and export, carried on by the assessee, cannot be treated as "Services", for the purpose of section 10AA of the Act a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the earlier years, the Ld. CIT(A) was of the opinion that no deviation is permissible without appropriate basis. 4. Aggrieved by the order passed by the Ld. CIT(A), revenue is in appeal before us. 5. None appeared on behalf of the assessee. We have heard the Ld. Departmental Representative in this regard and carefully perused the record. As per the SEZ rules, admittedly the activity carried on b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n taken in the earlier years, the burden is upon the A.O. to show that the view taken by him is the only view possible in the matter and, in law assessee cannot, by any stretch of imagination, be entitled to claim deduction u/s 10AA of the Act. Since the Ld. CIT(A) has given cogent reasons in arriving at a conclusion that the assessee is entitled to exemption u/s 10AA of the Act on an interpretati ..... X X X X Extracts X X X X X X X X Extracts X X X X
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