If assessee opts not to claim exemption under s 10A(8) in one year, it cannot be denied exemption in future provided it fulfils all the conditions of s 10A

ACIT Vs Headstrong Services India Pvt Ltd (ITAT New Delhi) – The assessee on the premise that it is in the business of development and export of computer software and human resources services claimed benefit of Section 10A of the Income-Tax Act, 1961 (hereinafter referred to as “Act”), in the assessment year 2001-02. The Assessing Officer disallowed the said benefit invoking the provisions of sub Section (7) of Section 10A of the Act on the ground that in the previous assessment year i.e. 2000-01 the assessee had opted for not claiming the deduction under this provision. The CIT(A)...