Case Law Details
DCIT Vs Ms Hitech Infosoft (ITAT Ahmedabad)
Conclusion: Deduction under section 10B could not be denied on the ground that the approval of STPI units of the assessee was not ratified by the Board of approvals as mandated u/s 10B.
Held: In the instant case, the exemption claimed by the assessee u/s 10B of the Act was denied by the AO on the ground that the approval of STPI units of the assessee was not ratified by the Board of approvals as mandated u/s 10B. It was held that approval by Software Technology Parks of India comes under the Ministry of Communication & Information Technology & was a competent authority to grant approval to such units for claiming benefits u/s 10B as 100% Export Oriented Undertaking and the same was possessed by assessee and also looking to the facts of the case of assessee wherein assessee had been allowed deductions u/s 10B consistently, assessee’s claim of deduction under section 10B was justified.
FULL TEXT OF THE ITAT JUDGMENT
This is an appeal by the Revenue against the order of the Commissioner of Income Tax (Appeals)-3, Ahmedabad, vide Appeal No.CIT(A)-3/Cir.3(3)/26/15-16 dtd. 07.04.2016 for the Assessment Year (AY) 2007-08.
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