https://www.taxtmi.com/caselaws?id=210962 The High Court upheld the validity of the approval granted by the Development Commissioner for claiming exemption under Section 10B of the Income Tax Act, dismissing the Revenue's appeal. The Court emphasized that the approval by the Development Commissioner, ratified by the Board of Approval for the EOU scheme, was sufficient for claiming the exemption, contrary to the Revenue's argument that only the Board under the Industries (Development & Regulation) Act could grant approval. The Court's decision affirmed the assessee's eligibility for the Section 10B benefits based on the approval received, as outlined in a CBDT circular. en-us Wed, 14 Sep 2011 00:00:00 +0530 Tue, 28 Feb 2012 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210962 The High Court upheld the validity of the approval granted by the Development Commissioner for claiming exemption under Section 10B of the Income Tax Act, dismissing the Revenue's appeal. The Court emphasized that the approval by the Development Commissioner, ratified by the Board of Approval for the EOU scheme, was sufficient for claiming the exemption, contrary to the Revenue's argument that only the Board under the Industries (Development & Regulation) Act could grant approval. The Court's decision affirmed the assessee's eligibility for the Section 10B benefits based on the approval received, as outlined in a CBDT circular. Case-Laws Income Tax Wed, 14 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210962