https://www.taxtmi.com/caselaws?id=752342 The Karnataka HC held that a 100% EOU cannot be compelled to claim deduction under Section 10B of the Income Tax Act. The petitioner, holding EOU status until March 2013, filed declarations with the Income Tax Office stating Section 10B provisions were not applicable. The court ruled that while Section 70 applies to the assessee, it has the choice to seek non-application of Section 10B through declaration. Since no mandatory Form-56G audit report was filed for claiming Section 10B deduction, the benefit cannot be thrust upon the assessee against its wishes. The writ petition was allowed. en-us Mon, 15 Apr 2024 00:00:00 +0530 Wed, 08 May 2024 15:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752342 The Karnataka HC held that a 100% EOU cannot be compelled to claim deduction under Section 10B of the Income Tax Act. The petitioner, holding EOU status until March 2013, filed declarations with the Income Tax Office stating Section 10B provisions were not applicable. The court ruled that while Section 70 applies to the assessee, it has the choice to seek non-application of Section 10B through declaration. Since no mandatory Form-56G audit report was filed for claiming Section 10B deduction, the benefit cannot be thrust upon the assessee against its wishes. The writ petition was allowed. Case-Laws Income Tax Mon, 15 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752342