https://www.taxtmi.com/caselaws?id=206406 The Tribunal upheld the Commissioner of Income-tax (Appeals) decision, allowing retrospective assignment of business for deduction under section 10B. It affirmed that deduction under section 10B is applicable to undertakings, not just companies, and upheld the deduction for the appellant-firm post-acquisition. The Tribunal rejected the Department's plea for remand, stating the Assessing Officer had a fair chance to present his case. The Tribunal dismissed the Department's appeal, supporting the deduction under section 10B for the appellant-firm and M/s. Anjali Exports, emphasizing that the deduction is linked to the undertaking, not the owner. en-us Fri, 24 Dec 2010 00:00:00 +0530 Thu, 30 May 2013 17:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206406 The Tribunal upheld the Commissioner of Income-tax (Appeals) decision, allowing retrospective assignment of business for deduction under section 10B. It affirmed that deduction under section 10B is applicable to undertakings, not just companies, and upheld the deduction for the appellant-firm post-acquisition. The Tribunal rejected the Department's plea for remand, stating the Assessing Officer had a fair chance to present his case. The Tribunal dismissed the Department's appeal, supporting the deduction under section 10B for the appellant-firm and M/s. Anjali Exports, emphasizing that the deduction is linked to the undertaking, not the owner. Case-Laws Income Tax Fri, 24 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206406