https://www.taxtmi.com/caselaws?id=256668 Section 10B exemption required the specific approval contemplated by the statute, namely approval as a hundred per cent export oriented undertaking by the competent Board. In the absence of that approval, the exemption could not be claimed on the basis of substantial compliance, and the claim was rejected as contrary to the statutory scheme. However, the request to examine entitlement to any other permissible tax benefit was accepted, and the matter was remanded to the Assessing Officer for that limited reconsideration. The ruling treats the approval condition as mandatory while leaving open fresh consideration of other benefits under the Act. en-us Fri, 02 May 2014 00:00:00 +0530 Thu, 19 Feb 2015 09:00:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256668 Section 10B exemption required the specific approval contemplated by the statute, namely approval as a hundred per cent export oriented undertaking by the competent Board. In the absence of that approval, the exemption could not be claimed on the basis of substantial compliance, and the claim was rejected as contrary to the statutory scheme. However, the request to examine entitlement to any other permissible tax benefit was accepted, and the matter was remanded to the Assessing Officer for that limited reconsideration. The ruling treats the approval condition as mandatory while leaving open fresh consideration of other benefits under the Act. Case-Laws Income Tax Fri, 02 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256668