Assessee entitled to exemption on profit derived by its 100% EOU engaged in blending, packing and export of tea bags and tea packets

CASE LAWS DETAILS DECIDED BY: HIGH COURT OF KERALA IN THE CASE OF: Tata Tea Ltd. Vs. ACIT, APPEAL NO: ITA No. 87 of 2009, DECIDED ON: January 21, 2010 RELEVANT PARAGRAPH 3. In this context we notice that the decision of the Supreme Court in TARA AGENCIES’ case abovereferred was on assessee’s entitlement for weighted deduction on export market development allowance provided under Section 35B(1A) of the Act which is no longer in the statute. In our view, the scheme of deduction of export market development allowance earlier available and the scheme of exemption on export profits are ...