https://www.taxtmi.com/caselaws?id=203252 The court ruled in favor of the appellant, determining that the ownership of the company was not transferred, allowing the appellant to claim the deduction under section 10A(1) of the Income-tax Act. Additionally, the court held that Explanation 1 to section 10A(9) should be understood in a prospective manner, benefiting the appellant who had already been entitled to exemption under section 10A before the introduction of the Explanation. The judgment provided relief to the appellant by clarifying the applicability of Explanation 1 and establishing the prospective nature of its operation. en-us Tue, 08 Sep 2009 00:00:00 +0530 Sat, 22 Dec 2012 12:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203252 The court ruled in favor of the appellant, determining that the ownership of the company was not transferred, allowing the appellant to claim the deduction under section 10A(1) of the Income-tax Act. Additionally, the court held that Explanation 1 to section 10A(9) should be understood in a prospective manner, benefiting the appellant who had already been entitled to exemption under section 10A before the introduction of the Explanation. The judgment provided relief to the appellant by clarifying the applicability of Explanation 1 and establishing the prospective nature of its operation. Case-Laws Income Tax Tue, 08 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203252