https://www.taxtmi.com/caselaws?id=272002 Deduction under section 10AA was considered available where the assessee was an approved entrepreneur under the Special Economic Zones Act and earned export profits from goods manufactured in the SEZ. The dispute concerned whether the finished article, described as a medallion, complied with the approval conditions for pendants. Applying common parlance because neither term was defined in the relevant enactments, the Tribunal treated the product as a pendant in substance and held that the use of the label "medallion" did not amount to breach of approval conditions. The purity of the gold did not change the article's essential character, and the disallowance was held unsustainable. en-us Fri, 19 Feb 2016 00:00:00 +0530 Wed, 24 Feb 2016 07:44:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272002 Deduction under section 10AA was considered available where the assessee was an approved entrepreneur under the Special Economic Zones Act and earned export profits from goods manufactured in the SEZ. The dispute concerned whether the finished article, described as a medallion, complied with the approval conditions for pendants. Applying common parlance because neither term was defined in the relevant enactments, the Tribunal treated the product as a pendant in substance and held that the use of the label "medallion" did not amount to breach of approval conditions. The purity of the gold did not change the article's essential character, and the disallowance was held unsustainable. Case-Laws Income Tax Fri, 19 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272002