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TMI Blog2022 (1) TMI 794X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the Development Commissioner shall be considered valid for the purpose of exemption under Section 10B Whether the assessee would be entitled to relief under Section 10A? - Tribunal pointed out the similarities between Section 10A and Section 10B of the Act and held that assessee is entitled for the benefit of deduction under Section 10A that the assessee has not claimed the same under that provision on law in the return of income. Further, the Tribunal rightly took note of the judgement of the Hon ble Supreme Court in the case of CIT VS. Mahalaxmi Sugar Mills Co. Ltd. [ 1986 (7) TMI 83 - SUPREME COURT ] wherein it was held that the duty cast on the Income Tax Officer to apply relevant provisions of the Act for the purpose of deter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , 2016 passed by the Income Tax Appellate Tribunal C Bench, Kolkata, (Tribunal) in ITA No. 628/Kol/2011 and C.O. No. 134/Kol/2013 for the assessment year 2007-08 and ITA No.65/Kol/2012 and C.O. No.133/Kol/2013 for the assessment year 2008-09. The revenue has raised the following substantial questions of law for our consideration :- 1. Whether on the facts and in the circumstances of the case, the Learned Tribunal erred in law in allowing the benefit of exemption under Section 10 B of the Income Tax Act by holding the assessee as 100% Export Oriented Undertaking though the assessee was not approved by the concerned statutory Board as Export Oriented Undertaking as is required in terms of clause IV of Explanation 2 of section 10 B of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ertaking as required under explanation to Section 10 B of the Act. The assessee carried the matter in appeal before the Commissioner of Income Tax (Appeals) VIII, Kolkata (CIT(A)). The CIT(A) by an elaborate order allowed the appeal filed by the assessee vide order dated 20.12.2010. Aggrieved by the same, the revenue has preferred the appeal before the Tribunal, in which the assessee filed cross objection questioning the correctness of the order of the CIT(A) in not allowing the deduction under Section 10A of the Act and granting relief to the assessee only under Section 10B of the Act. The Tribunal took up the appeals as well as the cross objections together and noted that the question to be decided in the appeals as well as the cross ob ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted to the Development Commissioner and the approval granted by the Development Commissioner shall be considered valid for the purpose of exemption under Section 10B of the Act. With the above factual finding the Tribunal granted relief to the assessee under Section 10B of the Act by affirming the order passed by the CIT(A). Next the Tribunal took up for consideration the issue as to whether the assessee would be entitled to relief under Section 10A of the Act. The Tribunal pointed out the similarities between Section 10A and Section 10B of the Act and held that assessee is entitled for the benefit of deduction under Section 10A that the assessee has not claimed the same under that provision on law in the return of income. Further, the T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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