Deduction available u/s 10B towards profits of eligible units without setting off of b/f unabsorbed depreciation/ business loss

International Agricultural- Processing (P) Ltd. Vs ACIT (ITAT Chennai)

Facts- The assessee is engaged in the business of export of processed agricultural produce like gherkins, onions and other vegetables. The assessee company is a 100% Export Oriented Unit and has claimed deduction u/s.10B of the Income Tax Act, 1961 (The Act) from the AY 2000-01. A survey u/s.133A of the Act, was conducted in the business premises of the assessee on 17.11.2009. Consequent to the survey, the assessment has been re-opened u/

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