https://www.taxtmi.com/caselaws?id=206632 The Tribunal disallowed the assessee's claim for exemption under section 10B of the Income-tax Act, 1961, as the unit was found to be formed by the transfer of second-hand machinery, not meeting the conditions for exemption. However, the disallowance of consultancy charges paid to the resident director under section 40A(2)(a) was deleted, as the Tribunal determined that the arrangement was commercially motivated and not for tax avoidance purposes. The Tribunal partly allowed both the Revenue's appeal and the assessee's cross-objection. en-us Tue, 05 Oct 2010 00:00:00 +0530 Wed, 19 Oct 2016 14:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206632 The Tribunal disallowed the assessee's claim for exemption under section 10B of the Income-tax Act, 1961, as the unit was found to be formed by the transfer of second-hand machinery, not meeting the conditions for exemption. However, the disallowance of consultancy charges paid to the resident director under section 40A(2)(a) was deleted, as the Tribunal determined that the arrangement was commercially motivated and not for tax avoidance purposes. The Tribunal partly allowed both the Revenue's appeal and the assessee's cross-objection. Case-Laws Income Tax Tue, 05 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206632