2012 (6) TMI 660

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....ld as under: "6. It is not in dispute that Section 10B prior to amendment granted a tax holiday for a period of 5 years from the date of commencement of production out of a band of 8 years. The section was amended by Income Tax (Second Amendment) Act, 1998 which came into effect from 01.04.1999. The amended provision reads as under:- "10B. Special provisions in respect of newly established hundred per cent export oriented undertakings - (1) Subject to the provisions of this section, a deduction of such profits and gains are derived by a hundred per cent export-oriented undertaking from the export of articles or things or computer software for a period of ten consecutive assessment years beginning with the assessment year relevant to the p....

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.... order to give added thrust to exports. Clause-4 seeks to similarly extend the five year tax holiday period to ten years to the export oriented units under section 10B of the Income-tax Act." 8. From the aforesaid object behind the amendment, it is dear that the period of 5 years is extended to 10 years in order to give added thrust to exports. It is because the Parliament felt that the tax holiday of 5 years is not having the desired result and therefore, they extended the benefit of tax holiday from 5 years to 10 years. If it is a case of extension from 5 years to 10 years, the unit which had the benefit of 5 years automatically, should get the benefit of 10 years if other conditions are fulfilled. The other condition to be fulfilled is ....