https://www.taxtmi.com/caselaws?id=177955 The Tribunal ruled in favor of the assessee company, overturning the CIT's decision under section 263. The Tribunal held that the company qualified for deduction under section 10B as a 100% Export Oriented Unit (EOU) under the STP scheme, emphasizing that approval by the Board was not a prerequisite for eligibility. The Tribunal emphasized the necessity of meeting statutory requirements for tax exemptions, reinstating the Assessing Officer's decision to allow the deduction under section 10B for the assessment year 2006-07. en-us Fri, 15 Jul 2011 00:00:00 +0530 Fri, 22 Jan 2016 16:48:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177955 The Tribunal ruled in favor of the assessee company, overturning the CIT's decision under section 263. The Tribunal held that the company qualified for deduction under section 10B as a 100% Export Oriented Unit (EOU) under the STP scheme, emphasizing that approval by the Board was not a prerequisite for eligibility. The Tribunal emphasized the necessity of meeting statutory requirements for tax exemptions, reinstating the Assessing Officer's decision to allow the deduction under section 10B for the assessment year 2006-07. Case-Laws Income Tax Fri, 15 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177955