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TMI Blog2010 (10) TMI 624X X X X Extracts X X X X X X X X Extracts X X X X ..... ption u/s 10A of the Act, without properly adjudicating the appellant company's alternate claim that the appellant was entitled to such exemption u/s 10B, if not u/s 10A of the Act, as a result of conversion and registration of the said unit 100% EOU by the certificate dated 21.9.2005 of the office of Development Commissioner, Govt. of India, Ministry of Commerce and Industry, Department of Commerce, office located in Noida Special Economic Zone, Noida and became entitled for exemption u/s 10B of the Income Tax Act, 1961 in terms Board's Circular No.1 of 2005. 1(b) That to reject the claim of the appellant, both the authority below wrongly concluded that the business of the appellant company was a new business formed by splitting up ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g this alternate claim of the assessee for deduction u/s 10B of the Act. The matter was decided by the Assessing Officer against the assessee on this basis that the assessee does not qualify for deduction u/s 10A of the Act. In this manner, the Assessing Officer disallowed the entire claim of deduction u/s 10A. Being aggrieved, the assessee carried the matter in appeal before Ld CIT (A). Ld CIT(A) has also not examined this aspect of the matter as to whether deduction is allowable to the assessee u/s 10B or not and he has confirmed the assessment order. Now, the assessee is in further appeal before us. 4. It is submitted by the Ld AR of the assessee that the issue regarding eligibility of the assessee for deduction u/s 10B was not e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase, deduction should be allowed to the assessee u/s10B. Ld DR of the revenue supported the orders of the authorities below. 5. We have heard the rival submissions and have gone through the material available on record. We find that the case of the assessee is that in the present year, the assessee is eligible for deduction u/s 10B and not u/s 10A and by mistake, the assessee claimed deduction u/s 10A but instead of that, the assessee should be allowed u/s 10B of the Act. It was also submitted that the amount of deduction to be allowable to the assessee will remain the same even u/s 10B. Under these facts, we are of the considered opinion that merely because the claim was made under the wrong section, the claim of the assessee shoul ..... X X X X Extracts X X X X X X X X Extracts X X X X
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