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Exemption cannot be denied merely for claim under wrong section
Case Law Details
- Case Name
- M/s. Annam Software Pvt. Ltd. Vs Commissioner of Income-Tax (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All ITAT, ITAT Chennai
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Brief of the case
ITAT Chennai in the case of Annam Software Pvt. Ltd. vs. CIT held that Exemption cannot be denied merely for claiming the exemption under section 10B instead of Section 10A. Tribunal remanded matter back to A.O. to consider the case on merits.
Facts of the case
The assessee filed return of income , claiming deduction under section 10B of the Act.
The A.O. denied assesse’s claim taking a view that , since the assessee is only 100% export oriented unit setup under STPI scheme and not approved by the Board appointed in this behalf by the Central Government in exercis...
