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<h1>Clarification on Income Exemption for 100% Export-Oriented Units u/s 10B of Income Tax Act.</h1> Instruction No. 02/2009 clarifies the deduction under Section 10B of the Income Tax Act, which provides income exemptions for 100% export-oriented undertakings, subject to certain conditions. A 'hundred percent export oriented undertaking' is defined as an undertaking approved by a Board appointed by the Central Government. The Ministry of Commerce and Industries has delegated the power to grant approvals to Development Commissioners, with these approvals being ratified by the Board of Approvals. The Board has decided that approvals granted by Development Commissioners for units in Export Processing Zones are valid once ratified by the Board of Approval for the EOU Scheme.