https://www.taxtmi.com/caselaws?id=378948 The Bombay High Court upheld the decision of the Income Tax Appellate Tribunal regarding the deduction claimed under Section 10A of the Income Tax Act, 1961. The Tribunal found that the assessee was entitled to the exemption under Section 10A as the transfer of the undertaking was done as a going concern at its book value, and the business activities continued after the change of ownership. The Court held that the benefit of Section 10A is attached to the undertaking and not the assessee, dismissing the Revenue's appeal and affirming the decision of the CIT(A). en-us Tue, 16 Apr 2019 00:00:00 +0530 Wed, 24 Apr 2019 09:15:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378948 The Bombay High Court upheld the decision of the Income Tax Appellate Tribunal regarding the deduction claimed under Section 10A of the Income Tax Act, 1961. The Tribunal found that the assessee was entitled to the exemption under Section 10A as the transfer of the undertaking was done as a going concern at its book value, and the business activities continued after the change of ownership. The Court held that the benefit of Section 10A is attached to the undertaking and not the assessee, dismissing the Revenue's appeal and affirming the decision of the CIT(A). Case-Laws Income Tax Tue, 16 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378948