https://www.taxtmi.com/caselaws?id=211715 The High Court affirmed the Tribunal's decision in favor of the assessee regarding entitlement to exemption under Section 10A(2) of the Income Tax Act, 1961. The Court held that the software division transfer did not constitute reconstruction or splitting up of an existing business, thus meeting the conditions for exemption. Other issues such as depreciation, repairs, and maintenance were addressed based on turnover ratios. The Court rendered additional issues moot due to the favorable outcome on the primary exemption question. The appeal was disposed of without costs. en-us Tue, 06 Mar 2012 00:00:00 +0530 Wed, 13 Jun 2012 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211715 The High Court affirmed the Tribunal's decision in favor of the assessee regarding entitlement to exemption under Section 10A(2) of the Income Tax Act, 1961. The Court held that the software division transfer did not constitute reconstruction or splitting up of an existing business, thus meeting the conditions for exemption. Other issues such as depreciation, repairs, and maintenance were addressed based on turnover ratios. The Court rendered additional issues moot due to the favorable outcome on the primary exemption question. The appeal was disposed of without costs. Case-Laws Income Tax Tue, 06 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211715