https://www.taxtmi.com/caselaws?id=252012 Approval by the designated authority was treated as an essential pre-condition for claiming deduction under Section 10B for a hundred per cent export-oriented undertaking. The statutory language in Explanation 2(iv) was read as requiring approval before the deduction can arise, and that requirement could not be relaxed by a CBDT circular or by a liberal construction inconsistent with the provision. Earlier authorities were distinguished because the necessary conditions were not satisfied on the relevant date. The deduction was therefore unavailable until approval was obtained. en-us Mon, 25 Aug 2014 00:00:00 +0530 Tue, 17 Mar 2015 11:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252012 Approval by the designated authority was treated as an essential pre-condition for claiming deduction under Section 10B for a hundred per cent export-oriented undertaking. The statutory language in Explanation 2(iv) was read as requiring approval before the deduction can arise, and that requirement could not be relaxed by a CBDT circular or by a liberal construction inconsistent with the provision. Earlier authorities were distinguished because the necessary conditions were not satisfied on the relevant date. The deduction was therefore unavailable until approval was obtained. Case-Laws Income Tax Mon, 25 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252012