https://www.taxtmi.com/caselaws?id=177005 The Tribunal allowed the assessee's appeals regarding entitlement to exemption under section 10B for assessment years 2000-01 and 2001-02, overturning the CIT(A)'s findings. It determined that the conversion from a partnership firm to a private limited company did not constitute a business reconstruction, thus qualifying for the extended ten-year exemption. However, the Tribunal upheld the CIT(A)'s decision to exclude interest income from the deduction computation under section 80HHE, as it was deemed "Income from other sources" unrelated to business activities. en-us Fri, 17 Feb 2006 00:00:00 +0530 Wed, 20 Mar 2024 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177005 The Tribunal allowed the assessee's appeals regarding entitlement to exemption under section 10B for assessment years 2000-01 and 2001-02, overturning the CIT(A)'s findings. It determined that the conversion from a partnership firm to a private limited company did not constitute a business reconstruction, thus qualifying for the extended ten-year exemption. However, the Tribunal upheld the CIT(A)'s decision to exclude interest income from the deduction computation under section 80HHE, as it was deemed "Income from other sources" unrelated to business activities. Case-Laws Income Tax Fri, 17 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177005