Section 10A exemption- Approvals given by Directors of STPI is valid

Assesee claimed deduction of Rs. 1.33 crores under Section 10A of the Act. On being called upon to explain about the eligibility of deduction, the assessee stated that it was entitled to deduction in view of fulfillment of all the requisite conditions as prescribed under Section 10A. The Assessing Officer held the assessee to be not qualifying for deduction under this section because the registration was granted by the Software Technology Park of India (STPI) and not the Inter-ministerial Standing Committee (IMSC) . He held that the IMSC was entrusted with the obligation to examine the proposa...