https://www.taxtmi.com/caselaws?id=212505 The High Court upheld the ITAT's decision to grant exemption under Sec. 10A to the respondent assessee for the assessment year 1999-2000, finding the STP unit to be an independent establishment. The conditions of Sec. 10A(2)(i) and 10A(2)(iii) were deemed satisfied, and it was concluded that the unit was not a reconstruction of the old unit. Additionally, the High Court ruled that bad and doubtful debts should not be added back for computing book profit under Sec. 115JB, following a Supreme Court decision that clarified such debts are not liabilities. The appeals by the Revenue were dismissed. en-us Wed, 02 Nov 2011 00:00:00 +0530 Thu, 22 Nov 2012 11:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212505 The High Court upheld the ITAT's decision to grant exemption under Sec. 10A to the respondent assessee for the assessment year 1999-2000, finding the STP unit to be an independent establishment. The conditions of Sec. 10A(2)(i) and 10A(2)(iii) were deemed satisfied, and it was concluded that the unit was not a reconstruction of the old unit. Additionally, the High Court ruled that bad and doubtful debts should not be added back for computing book profit under Sec. 115JB, following a Supreme Court decision that clarified such debts are not liabilities. The appeals by the Revenue were dismissed. Case-Laws Income Tax Wed, 02 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212505