2023 (7) TMI 1096 - SCH - Income Tax

Exemption u/s 10B - eligibility criteria - whether deduction can be claimed for a period of 10 consecutive years beginning with the previous year in which the assessee begins manufacture of the products? - simultaneous benefit u/s 80IC claimed - As held by HC assessee was not entitled to the benefit u/s 10B and in view of the impossibility to claim the both together, the claim under Section 80IC had been given up, we would think that it will be in the fitness of things that we remit the matter back to the Assessing Officer for consideration of the case of the assessee u/s 80IC HELD THAT - Petitioner has moved an application for permission to withdraw the present special leave petition. Leave, as prayed for, is granted. The special leave petition is dismissed as withdrawn.

Summary

The Supreme Court granted permission for the petitioner to withdraw the special leave petition, which was then dismissed. Pending applications were disposed of.