https://www.taxtmi.com/caselaws?id=359255 The High Court of Karnataka upheld the assessee's entitlement to deduction under Section 10B of the Income Tax Act, 1961 for the assessment year 2005-06. The Court determined that the omission of sub-section (9) of Section 10B rendered the provision as if it never existed in the statute book, thereby allowing the assessee's claim for deduction. Emphasizing that the benefit under Section 10B applies to the undertaking and not the person running the business, the Court dismissed the Revenue's appeal, affirming the assessee's right to the deduction. en-us Thu, 22 Mar 2018 00:00:00 +0530 Thu, 26 Apr 2018 09:38:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359255 The High Court of Karnataka upheld the assessee's entitlement to deduction under Section 10B of the Income Tax Act, 1961 for the assessment year 2005-06. The Court determined that the omission of sub-section (9) of Section 10B rendered the provision as if it never existed in the statute book, thereby allowing the assessee's claim for deduction. Emphasizing that the benefit under Section 10B applies to the undertaking and not the person running the business, the Court dismissed the Revenue's appeal, affirming the assessee's right to the deduction. Case-Laws Income Tax Thu, 22 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359255