Section 10A deduction is available to a new unit even though STPI approval refers to it as expansion of existing unit

ACIT Vs. Symantec Software India P. Ltd. (ITAT Pune)- Based on the specific facts of the case, the Tribunal has reiterated that the fulfillment of the conditions of section 10A(2) is of utmost importance for claiming a deduction under section 10A. A reference to the new undertaking as expansion by the STPI would not dis-entitle the assessee from claiming a deduction under section 10A of the Act. This ruling re- emphasizes the need for detailed factual submissions to be made at the earliest opportunity. With regard to the loss set-off, the Tribunal has held that the entire profits of an eligibl...