Case Law Details
DCIT Vs. M/s. Value Labs (ITAT Hyderabad)
It has been held that where the assessee is registered under the STPI as a 100% EOU, it is entitled for deduction u/s 10B of the Act. The issue involved in this appeal is whether for becoming eligible to the deduction under S.10B of the Act, whether it is enough if the assessee is registered with Software Technology Park of India as a 100% EOU or it is also necessary for the assessee to have the approval of the Board constituted by the Central Government under S.14 of the Industries (Development and Regulation) Act, 1951. Consistent with the view taken by various Bench of the Tribunal, including the Benches at Hyderabad, in similar matters, we hold that the assessee, having been registered with the STPI, is entitled for deduction under S.10B of the Act.
FULL TEXT OF THE ITAT ORDER IS AS FOLLOWS:-
Above appeals are filed by the Revenue as well as the assessee for the A.Ys 2004-05, 2007-08 to 2009-10 & 20 12-13.
ITA No. 836/Hyd/2016 A.Y 2004-05
Please become a Premium member. If you are already a Premium member, login here to access the full content.