https://www.taxtmi.com/caselaws?id=213102 The Tribunal upheld the Commissioner of Income Tax's (CIT) order under Section 263, finding the original assessment order erroneous and prejudicial to revenue due to the Assessing Officer's failure to consider a relevant CBDT circular. It clarified that the ten-year deduction period under Section 10B starts from the date of commercial production, regardless of DTA to EOU conversion. Additionally, fresh claims cannot be made during Section 263 proceedings, with the Tribunal affirming that Section 10B benefits apply only to new undertakings, not expansions. The appeal was dismissed, confirming the CIT's actions and decisions. en-us Wed, 14 Dec 2011 00:00:00 +0530 Wed, 09 May 2012 09:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213102 The Tribunal upheld the Commissioner of Income Tax's (CIT) order under Section 263, finding the original assessment order erroneous and prejudicial to revenue due to the Assessing Officer's failure to consider a relevant CBDT circular. It clarified that the ten-year deduction period under Section 10B starts from the date of commercial production, regardless of DTA to EOU conversion. Additionally, fresh claims cannot be made during Section 263 proceedings, with the Tribunal affirming that Section 10B benefits apply only to new undertakings, not expansions. The appeal was dismissed, confirming the CIT's actions and decisions. Case-Laws Income Tax Wed, 14 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213102