https://www.taxtmi.com/caselaws?id=288815 The Court ruled in favor of the assessee, granting relief under Section 10A of the Income Tax Act for the assessment year 2004-05. The Assessing Officer's disallowance of the exemption claim was overturned on appeal, with the Tribunal dismissing the Revenue's subsequent appeal. The High Court emphasized the continuous and consecutive nature of the ten-year tax holiday period under Section 10B, rejecting the Revenue's argument that changes in the undertaking would impact the tax holiday. The Court's interpretation favored the assessee, leading to the disposal of the appeal. en-us Wed, 14 Nov 2018 00:00:00 +0530 Wed, 01 Jul 2020 08:04:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288815 The Court ruled in favor of the assessee, granting relief under Section 10A of the Income Tax Act for the assessment year 2004-05. The Assessing Officer's disallowance of the exemption claim was overturned on appeal, with the Tribunal dismissing the Revenue's subsequent appeal. The High Court emphasized the continuous and consecutive nature of the ten-year tax holiday period under Section 10B, rejecting the Revenue's argument that changes in the undertaking would impact the tax holiday. The Court's interpretation favored the assessee, leading to the disposal of the appeal. Case-Laws Income Tax Wed, 14 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288815