https://www.taxtmi.com/caselaws?id=209615 The Tribunal ruled in favor of the respondent, holding that the transfer of majority shares to an American company did not disqualify eligibility for exemption under Section 10A of the I.T. Act. The Tribunal criticized the assessing officer for unjustly denying the alternative claim under Section 80HHE due to document delays. Emphasizing the promotion of software development in India, the Tribunal's decision aligned with this objective. The deletion of Section 10A(9) by the Finance Act, 2003, supported the ruling that the share transfer should not impact the export exemption. The revenue's appeals were dismissed, upholding the Tribunal's decision in favor of the respondent. en-us Mon, 14 Mar 2011 00:00:00 +0530 Fri, 12 Jul 2013 13:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209615 The Tribunal ruled in favor of the respondent, holding that the transfer of majority shares to an American company did not disqualify eligibility for exemption under Section 10A of the I.T. Act. The Tribunal criticized the assessing officer for unjustly denying the alternative claim under Section 80HHE due to document delays. Emphasizing the promotion of software development in India, the Tribunal's decision aligned with this objective. The deletion of Section 10A(9) by the Finance Act, 2003, supported the ruling that the share transfer should not impact the export exemption. The revenue's appeals were dismissed, upholding the Tribunal's decision in favor of the respondent. Case-Laws Income Tax Mon, 14 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209615