Section 10A/10B deduction eligible on ‘deemed export’ to other STP unit

Preludesys India Ltd. Vs. ACIT (Madras High Court) The first aspect that has to be considered is as to whether the Income Tax Act, 1961 deals with the concept of a ‘deemed export’. This position has been clearly explained by the High Court of Karnataka both in the case of Tata Elxsi Ltd., and in the case of International Stones India Private Ltd. The Court rightly took note of the provisions of the SEZ Act and held that the export in question need not take place directly from the hands of the undertaking in question and this finding was rendered upon a harmonious reading of the provisions ...