https://www.taxtmi.com/caselaws?id=408874 STPI approval under the EHTP/STP scheme does not by itself satisfy the statutory requirement for exemption under Section 10-B of the Income-tax Act, 1961. The approval for setting up a 100% export-oriented unit operates within the scheme framework, while Section 10-B exemption depends on approval by the Board appointed under the Industries (Development and Regulation) Act, 1951, as reflected in Explanation 2(iv). In the absence of express statutory authorization or delegation extending to tax exemption approvals, scheme approval cannot replace Board ratification. The CBDT clarification requiring such ratification was therefore consistent with the statutory framework. en-us Wed, 16 Jun 2021 00:00:00 +0530 Wed, 04 Aug 2021 15:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408874 STPI approval under the EHTP/STP scheme does not by itself satisfy the statutory requirement for exemption under Section 10-B of the Income-tax Act, 1961. The approval for setting up a 100% export-oriented unit operates within the scheme framework, while Section 10-B exemption depends on approval by the Board appointed under the Industries (Development and Regulation) Act, 1951, as reflected in Explanation 2(iv). In the absence of express statutory authorization or delegation extending to tax exemption approvals, scheme approval cannot replace Board ratification. The CBDT clarification requiring such ratification was therefore consistent with the statutory framework. Case-Laws Income Tax Wed, 16 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408874