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TMI Blog2014 (11) TMI 1277X X X X Extracts X X X X X X X X Extracts X X X X ..... record by a considered and reasoned order has categorically recorded a finding that Lara Networks did not have STPI network by the time the unit taken over by the assessee - HELD THAT:- The circular No.1 of 2005 dated 61.2005 by CPDT makes it clear that even if the existing undertaking receives STPI approval, it would still be entitled to deduction under Section 10 A and therefore, it was held that the business of STPI Unit-It was not set up by reconstruction or splitting up. Further it was held though registration was subsequent to the production, that is not a condition which is stipulated in Section 1CA for claiming the benefit of the said deduction and therefore, the assessee is entitled to the said benefit. In fact, these questions ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has been received and that the STFI unit-III was not set up by reconstruction or splitting up and therefore, the assessee is entitled to the benefit of deduction under section 10A in respect of the STPI undertaking. 2. The appeal was admitted to consider the substantial questions of law :- 1 Whether the Tribunal was correct in holding that Unit IZ was entitled to deduction us. 10A of the Act which was taken over from M s.Lara Networks despite the unit-III not been a new establishment and the same had been functioning earlier? 2. Whether the Tribunal was correct allowing deduction u/s 10A of the Act on Unit-III-IT even though the assessee had been reconstituted, reconstructed by virtue of a business already in existence M/s. Lar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ould still be entitled to deduction under Section 10 A and therefore, it was held that the business of STPI Unit-It was not set up by reconstruction or splitting up. Further it was held though registration was subsequent to the production, that is not a condition which is stipulated in Section 1CA for claiming the benefit of the said deduction and therefore, the assessee is entitled to the said benefit. In fact, these questions were the subject matter of ITA Nos. 403 of 2008 C/w. 402 of 2008 decided on 20.6.2014 in the case of Commissioner of Income Tax and another - vs - Caritor (India Pvt. Ltd. and also in the case of Commissioner of Income Tax and Another - vs - Expert Outsource P. Ltd. reported in (2013) 358 ITR 518 where, on interpreti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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