TMI Blog2018 (11) TMI 1787X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act, tax holiday period should be continuous and consecutive; that the period of ten years is referable to the undertaking and therefore, the transfer or change of the undertaking will not alter or increase the tax holiday period Of ten years. Therefore, the contention of the Revenue that if there is change of undertaking, tax holiday would stand restricted may not be correct. In so doing the earlier orders in case of Heartland KG Information Ltd. [ 2013 (9) TMI 375 - MADRAS HIGH COURT] And Sonata Software Ltd. [ 2012 (4) TMI 99 - BOMBAY HIGH COURT] were affirmed - Decided against revenue. - ITA No. 368 Of 2010, 367 of 2010 - - - Dated:- 14-11-2018 - Mr. Ravi Malimath And Mr. K.Natarajan, JJ. Sri K.V.Aravind, Advocate For Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nue contends that the assessee has violated the conditions as stated in Sec.10A (2)(ii) of the Act with the organizational change in the company. Under the circumstances grant of relief under Section 10A of the Act to the assessee is erroneous and that the findings recorded by the erroneous. Hence, he pleads that the question of law be answered in favour of the revenue and against the assessee. 4. The same is disputed by the assessee The learned counsel on behalf of the assessee contends that' the Unit has been running since the last years and exemption was consistently granted for eight years. is only for this year, the same has been disallowed by the Assessing Officer. Even in terms of Section 10A of the Act such a claim cannot be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... prohibition in section 10B on transfer or sale of the undertaking by the assessee, who has formed or established the same, to another assessee and whether the purchaser/acquireraccessee can be denied the benefit under section 10B of the Act. Before we answer this question, one clarification is required. Subsection (1) of section 10B stipulates the tax holiday period as 10 years, which should be continuous/consecutive and begins from the assessment year relevant to the, previous year in which the undertaking begins to manufacture or produce articles, things or computer software. Thus the period of 10 years is with reference to the undertaking and transfer or change of will not alter or increase the tax holiday period of 10 years. The same ..... X X X X Extracts X X X X X X X X Extracts X X X X
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