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The Delhi bench of Income-tax Appellate Tribunal (the Tribunal) in the case of DDIT v. Virage Logic International (ITA No. 494(Del) 2010) held that transfer of a computer software by an Indian branch of a foreign company [approved as 100 percent Export Oriented Unit (EOU) by Software Technology Parks of India (STPI)] to its head office is a transaction eligible for claiming tax benefits under section 1 0A of the Income-tax Act, 1961 (the Act).
Manufacturing of a new product with a new technology at the same place after taking a fresh approval from SEZ authority does not amount to ‘splitting up or reconstruction’ of an existing business for the purpose of section 10A of the Act.
In respect of AY 2003-04, the assessee had an unit in Chennai which was engaged in software development and whose profits were eligible for deduction u/s 10A. The assessee had another unit in Delhi which was engaged in trading and had suffered a loss. The assessee claimed that it was eligible for a deduction u/s 10A
The short question that arises for consideration is whether blending and packing of tea for export in the industrial unit in the Special Economic Zone amount to manufacture or production of an article qualifying for exemption under Section 10A of the Act, that is, during the period prior to introduction of “blending” as “manufacture” with effect from 10.2.2006.
The agitation by the revenue is that the assessee company was not entitled to deduction under section 10A as the CIT (A) failed to appreciate the fact that the assessee had commenced manufacture, production of software prior to its registration as STPI and the STPI authorities had granted approval
14. It is relevant to state the provision of section 10A(4) as applicable to the assessment year, in which the assessee began production with effect from 01.02.1993 and became entitled to get deduction. The relevant section 10A(4) reads as under :- “Notwithstanding anything contained in any other provision of this Act, in computing the total income of the assessee
7.1 As per the provision of section 10A of the Act, assessee is entitled to claim the deduction in respect of the profits and gains as derived by the assessee’s undertaking from the export of the articles of the things for the period of the 10 consecutive A.Y’s. Sub-section (2) to sec. 10A has laid down certain conditions for the eligibility of the undertaking to claim the deduction
