https://www.taxtmi.com/caselaws?id=421404 Deduction under section 10B was available for a 100% export oriented unit approved by the Development Commissioner and STPI, even without separate ratification by the Board of Approval. The statutory reference in Explanation 2(iv) was read with the scheme governing STP/EOU units, under which approval powers had been delegated to Development Commissioners. The record showed such approval and issuance of a green card by STPI, and a later clarification also supported that position. On those facts, the absence of separate Board ratification did not defeat the deduction claim, and the Revenue's challenge failed. en-us Mon, 18 Apr 2022 00:00:00 +0530 Sat, 23 Apr 2022 08:35:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421404 Deduction under section 10B was available for a 100% export oriented unit approved by the Development Commissioner and STPI, even without separate ratification by the Board of Approval. The statutory reference in Explanation 2(iv) was read with the scheme governing STP/EOU units, under which approval powers had been delegated to Development Commissioners. The record showed such approval and issuance of a green card by STPI, and a later clarification also supported that position. On those facts, the absence of separate Board ratification did not defeat the deduction claim, and the Revenue's challenge failed. Case-Laws Income Tax Mon, 18 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421404