2012 (11) TMI 1126 - HC - Income Tax

Grant of benefit under Section 10-B - Held that - It appears that the assessee had claimed the benefit of Section 10-B on the basis of the provisions which pertains to Section 10-A. AO must in fairness consider the documents on the basis of the claim and ascertain whether they are proper and after verifying them, pass appropriate order as to whether the benefit of Section 10-A can be granted.

Summary

The High Court of Delhi considered a case involving the benefit of Section 10-B of the Income Tax Act, 1961. The applicant's claim for the benefit was initially denied, and upon remand, the Assessing Officer (AO) was seeking to deny the benefit of Section 10-A as well. The Court directed the AO to consider the documents and ascertain their validity to determine if the benefit of Section 10-A can be granted. The application was disposed of accordingly.