Assessee registered under STPI as a 100% EOU can claim deduction u/s 10B despite non approval by Board as 100% EOU

DCIT Vs. M/s. Value Labs (ITAT Hyderabad) It has been held that where the assessee is registered under the STPI as a 100% EOU, it is entitled for deduction u/s 10B of the Act. The issue involved in this appeal is whether for becoming eligible to the deduction under S.10B of the Act, whether it is enough if the assessee is registered with Software Technology Park of India as a 100% EOU or it is also necessary for the assessee to have the approval of the Board constituted by the Central Government under S.14 of the Industries (Development and Regulation) Act, 1951.  Consistent with the view tak...