Trading by way of re-export of imported goods from SEZ eligible for tax deduction under section 10AA

DCIT Vs. Goenka Diamonds and Jewelers Ltd. (ITAT Jaipur); ITA No. 509/ JP/2011- Dated- 31-01-2012

Though vide Instruction no. 1/2006 dated 24-03-2006, it was clarified that trading units can be set up in the SEZ. However, the modification was made on 24-05-2006 in which it was made clear that the deduction u/s 10AA will be available in respect of the trading in the nature of re-export of imported good. Thus the assessees were promised that they will be eligible for deduction u/s 10AA of the

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