TMI Blog2019 (3) TMI 59X X X X Extracts X X X X X X X X Extracts X X X X ..... endment extending the period of exemption under Section 10B, wherein also a similar amendment was brought in 1998 and the period of exemption was extended from five years out of eight yeas to a period of ten years with effect from 01.04.1999. Object with which this amendment was introduced, was to extend the benefit for a period of ten consecutive years from the date of commencement of manufacture or production. Only if the assessee has already availed the benefit under the unamended provision and ten consecutive years would fall prior to 01.04.1999; when the amendment came into effect, would the assessee be disentitled to the said benefit. If the ten years from the date of production has not expired prior to the date on which the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the entire business income of ₹ 50,64,763/-. After processing the returns under Section 143(1) on 19.09.2000, the assessment was reopened under Section 147 and notice was issued to the assessee under Section 148 on 31.01.2002 and in response to that, the assessee filed returns on 20.04.2002 maintaining the claim for exemption under Section 10A, but also claimed deduction under Section 80HHC for an amount of ₹ 14,18,953/-. The Assessing Officer (for brevity AO ) disallowed the claim of the assessee under Section 10A and granted deduction of ₹ 13,67,801/- under Section 80HHC and calculated the taxable income at ₹ 36,96,962/- vide Annexure A. 3. The appeal filed by the assessee before the Commissioner of Income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amendment in 1998 was to extend the benefit granted to the assessee's under Section 10A of the Act, and that instead of five years the period was extended to ten years and the words falling within a period of eight years and specified by the assesee at his option were omitted. 6. A Division Bench of the Karnataka High Court has in C.I.T. v. DSL Software Ltd., [2013] 351 ITR 385 considered the object behind the amendment extending the period of exemption under Section 10B, wherein also a similar amendment was brought in 1998 and the period of exemption was extended from five years out of eight yeas to a period of ten years with effect from 01.04.1999. The Karnataka High Court held that the object with which this amendment was ..... X X X X Extracts X X X X X X X X Extracts X X X X
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