Deduction u/s 10B allowable based on approval from STPI despite non-ratification by Board

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 &...