https://www.taxtmi.com/caselaws?id=66677 Eligibility for tax holiday or exemption depends on strict compliance with the statutory approval and commencement conditions of the relevant scheme, and a scheme-level administrative approval cannot replace the approval expressly required by the statute. On that basis, exemption under sections 10A and 10B was denied for the software unit and Nagarjuna Hills operations. Software development was treated as production of an article or thing for section 80-IA(2)(iv)(a), so deduction was allowed for domestic sales and was not barred by a separate export deduction under section 80HHE. Foreign travel and training expenditure for the Managing Director's son was held to be personal in character and not wholly for business, so it was disallowed. For section 80HHE, only net interest after setting off related interest expenditure was to be excluded. en-us Fri, 31 May 2002 00:00:00 +0530 Wed, 01 Apr 2015 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66677 Eligibility for tax holiday or exemption depends on strict compliance with the statutory approval and commencement conditions of the relevant scheme, and a scheme-level administrative approval cannot replace the approval expressly required by the statute. On that basis, exemption under sections 10A and 10B was denied for the software unit and Nagarjuna Hills operations. Software development was treated as production of an article or thing for section 80-IA(2)(iv)(a), so deduction was allowed for domestic sales and was not barred by a separate export deduction under section 80HHE. Foreign travel and training expenditure for the Managing Director's son was held to be personal in character and not wholly for business, so it was disallowed. For section 80HHE, only net interest after setting off related interest expenditure was to be excluded. Case-Laws Income Tax Fri, 31 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66677