Case Law Details
Brief Facts of the case:Assessee is engaged in the activity of collection ,collation ,formatting of data and information and its export.In her return she had claimed exemption under section 10B of IT Act to the tune of Rs 39,32,654/-and she claimed to be software exporter to Netherlands. AO in its assessment disallowed the above claim and finalized the assessment .
Sec “10B. (1) Subject to the provisions of this section, a deduction of such profits and gains as are derived by a hundred per cent export-oriented undertaking from the export of articles or things or computer software for a period of ten consecutive assessment years beginning with the assessment year relevant to the previous year in which the undertaking begins to manufacture or produce articles or things or computer software, as the case may be, shall be allowed from the total income of the assessee.
(2) This section applies to any undertaking which fulfils all the following conditions, namely :–
(i) it manufactures or produces any articles or things or computer software;
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