https://www.taxtmi.com/caselaws?id=354872 The Tribunal ruled in favor of the assessee, directing the Assessing Officer to allow the deduction claimed under Section 10AA of the Income Tax Act. The Tribunal upheld the principle of consistency, rejecting the AO's denial of the deduction in the third year. It found no evidence of splitting up or reconstruction of the existing business to form the SEZ unit. The Tribunal concluded that the assessee complied with Section 10AA conditions and Circular 14/2014, entitling it to the deduction and dismissing penalty proceedings as premature. en-us Tue, 23 Jan 2018 00:00:00 +0530 Thu, 22 Mar 2018 16:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354872 The Tribunal ruled in favor of the assessee, directing the Assessing Officer to allow the deduction claimed under Section 10AA of the Income Tax Act. The Tribunal upheld the principle of consistency, rejecting the AO's denial of the deduction in the third year. It found no evidence of splitting up or reconstruction of the existing business to form the SEZ unit. The Tribunal concluded that the assessee complied with Section 10AA conditions and Circular 14/2014, entitling it to the deduction and dismissing penalty proceedings as premature. Case-Laws Income Tax Tue, 23 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354872