Outsourcing no legal bar to section 10B exemption

It is not necessary for the assessee to produce its products so as to become eligible for claiming exemption under section 10B of the Income-tax Act, 1961

Taurus Merchandising Pvt. Ltd. Vs. ITO (ITAT Delhi)- It was  held that the new export-oriented unit of the assessee cannot be said to be formed by the reconstruction or splitting of a business already in existence. The Tribunal has also held that it is not necessary for the assessee to produce its products so as to beco

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