https://www.taxtmi.com/caselaws?id=64867 The Tribunal upheld the CIT(A)'s decision, affirming the assessee's entitlement to a deduction under Section 10B of the IT Act. It concluded that the assessee did not need to own the plant and machinery to claim the deduction, as the software development was primarily a human resource-oriented exercise. The Tribunal dismissed the Revenue's appeal, emphasizing that the legal position and CBDT Circular No. 694 supported the assessee's claim, allowing software development through outsourcing as long as the assessee maintained control and supervision. en-us Fri, 27 Jun 2008 00:00:00 +0530 Wed, 06 Dec 2023 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64867 The Tribunal upheld the CIT(A)'s decision, affirming the assessee's entitlement to a deduction under Section 10B of the IT Act. It concluded that the assessee did not need to own the plant and machinery to claim the deduction, as the software development was primarily a human resource-oriented exercise. The Tribunal dismissed the Revenue's appeal, emphasizing that the legal position and CBDT Circular No. 694 supported the assessee's claim, allowing software development through outsourcing as long as the assessee maintained control and supervision. Case-Laws Income Tax Fri, 27 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64867