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of <h1>Ownership change doesn't affect deduction eligibility under section 10A for assessment year 2004-05.</h1> The Tribunal dismissed the revenue's appeal against the CIT(A) order, allowing the deduction u/s 10A for the assessment year 2004-05. The decision was ... - Issues involved: Appeal by revenue against CIT(Appeals) order for assessment year 2004-05 regarding eligibility for deduction u/s 10A of the Income-tax Act, 1961.Summary:1. The revenue appealed against the CIT(A) order disallowing deduction u/s 10A, claiming the undertaking as a going concern post change of ownership.2. The AO observed the acquisition of assets from GE India Technology Centre, questioning the eligibility for deduction u/s 10A.3. CIT(A) allowed the deduction, stating the undertaking continued in the same form post ownership change.4. The revenue's appeal was based on the AO's decision, while the assessee relied on precedents supporting eligibility for deduction u/s 10A post ownership change.5. The Tribunal dismissed the revenue's appeal, citing precedents where continuity of business post-ownership change allowed for deduction u/s 10A.This judgment highlights the interpretation of eligibility criteria for deduction u/s 10A concerning the continuity of business post-change of ownership. The Tribunal's decision was based on established precedents supporting deduction in cases where the business continued in the same form and substance despite changes in ownership.
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