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2017 (9) TMI 487 - GUJARAT HIGH COURTReassessment u/s 147 - Business of export of Back Office and computer software - claimed deduction u/s 10B - AO disallowing 100% dedcution u/s 10B stating that assessee had not fulfilled the requirement of being a 100% export oriented undertaking - Held That:- the assessee's claim of deduction under section 10B of the Act was examined minutely by the Assessing Officer. The assessee pointed out that it enjoyed certification under STPI. If the Assessing Officer was of the opinion that such certification was inadequate and did not substitute for the requirement of approval by the Board appointed by the Government of India, under the Industries (Development and Regulation) Act, 1961, it was always open for the Assessing Officer to examine this issue further or to reject the assessee's claim in its entirety. He however, accepted the claim accepting the assessee's certification as sufficient compliance with the statutory requirements. There was no failure on part of the assessee to disclose necessary facts. Reassessment order set aside - Decided in favor of assessee.
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