TMI Blog2019 (8) TMI 161X X X X Extracts X X X X X X X X Extracts X X X X ..... tions specified in sub-sections 9 and 9A of Section 10B of the Act do not exist from 1.4.2004 and therefore, the conclusion of the AO that deduction u/s 10B cannot be granted on the merger of firms is not correct. In the light of the above finding in respect of the very same assessee by co-ordinate bench, we are of the considered view that present appeal is to be necessarily dismissed by answering the substantial question of law against the revenue and in favour of the assessee - ITA No.100032 of 2017 - - - Dated:- 22-7-2019 - MR. ARAVIND KUMAR AND MR. BELLUNKE A.S. JJ. APPELLANTS: (BY SRI. Y.V. RAVIRAJ, ADVOCATE) RESPONDENT: (BY SRI. H.R. KAMBIYAVAR, ADVOCATE) JUDGMENT ARAVIND KUMAR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lose that appeal has been heard on merits and dismissed. The issue relates to the disallowance of deductions claimed by the assessee under Section 10(B) of the income Tax Act, (for short I.T. Act ) which was on the ground that assessee had not fulfilled the conditions as specified in Sections 10(B)((ii) and (iii) of the Act. In the instant case, respondent-assessee is in the business of trade of iron ore and it is 100% EOU. For the assessment year 2010-11, assessment came to be completed by the Assessing Officer by disallowing the claim of the assessee under Section 10(B) of the Act as was done in the earlier assessment year 2009-10. However, the CIT (Appeals) deciding the issue in favour of the assessee by following the decision of the Tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 10B of the Act do not exist from 1.4.2004 and therefore, the conclusion of the assessing officer that deduction under section 10B of the Act cannot be granted on the merger of firms is not correct. 4. In the light of the above finding in respect of the very same assessee by co-ordinate bench, we are of the considered view that present appeal is to be necessarily dismissed by answering the substantial question of law against the revenue and in favour of the assessee in the light of the finding recorded by the co-ordinate Bench in ITA No.100029/2014, dated 10.10.2018. Hence, the following: ORDER (i) Appeal is dismissed by answering the substantial question of law in favour of the assessee and aga ..... X X X X Extracts X X X X X X X X Extracts X X X X
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