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TMI Blog2018 (1) TMI 386X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. First we take up ITA No.2734/Ahd/2015. With this appeal, the assessee has challenged the validity of order of the CIT-I, Baroda dated 22.03.3013 framed under section 263 of the Income Tax Act, 1961 ('the Act' hereinafter) pertaining to assessment year 2008-09. 4. The appeal is late by 860 days. In its request for the condonation of delay, the assessee stated that it came to know about the order framed under section 263 of the Act only when the assessment was framed pursuant to the directions given by the Commissioner which has caused the delay in filing of the appeal. The assessee further contends that he was under a bonafide belief that the assessee was not required to file an appeal against the order passed under section 263 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deduction under section 10B of the Act and accordingly denied deduction of Rs. 32,56,998/- 8. Assessee carried the matter before the CIT(A) but without any success. Before us, learned counsel for the assessee stated that the approval granted by the Director, STPI was subsequently ratified by the Board and therefore the assessee has fulfilled the mandatory conditions prescribed under the Act and eligible for the claim of deduction under section 10B of the Act. Learned Counsel relied upon the decision of Hon'ble High Court of Gujarat in the case of PCIT vs. ECI Technologies Pvt. Ltd., [2015] 375 ITR 595 (Guj.). Ld. Counsel also relied upon the CBDT Circular No.9309 and 859. 9. Per contra, learned Departmental Representative strongly support ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r cent export oriented unit will be considered valid once such an approval is ratified by the Board of Approval for EOU scheme." 11. We further find that identical issue was considered by the Hon'ble jurisdictional High Court of Gujarat in the case of PCIT vs. ECI Technologies Pvt. Ltd. (Supra). The relevant findings read as under :- "Heard the learned advocates appearing on behalf of the respective parties at length. At the outset, it is required that the assessee claimed deduction under section 10B of the Act claiming 100 per cent. export oriented unit. It is an admitted position that there was already a permission/approval granted by the Development Commissioner declaring/approving the assessee as 100 per cent. export oriented unit. H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the Development Commissioner and, therefore, it can be very well argued and said that the Development Commissioner while granting the approval of 100 per cent, export oriented unit exercises delegated powers. In any case and apart from the above when it is found that at the relevant time the Development Commissioner granted the approval of 100 per cent, export oriented unit in favour of the assessee-company, which came to be subsequently ratified by the Board of Approval and as observed hereinabove as such the ratification shall be from the date on which the Development Commissioner granted the approval, both the learned Commissioner of Income-tax (Appeals) as well as the learned Tribunal have rightly held that the assessee was entitled ..... X X X X Extracts X X X X X X X X Extracts X X X X
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