TaxTMI 
TaxTMI 
2013 (12) TMI 238
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.... common order is passed for the sake of convenience. I. T. A. No. 1887/Hyd/11 for AY 2005-06 2. Briefly the facts of the case are that the assessee-company, M/s. Singularity Software (India) P. Ltd. is engaged in the business of software development, filed its return of income for the year under consideration on October 25, 2005, declaring a total income of Rs. 4,36,600. Subsequently, the assessee filed revised return on March 31, 2005, declaring Rs. nil income after claiming deduction under section 10B of the Act of Rs.47,18,772. The revised return was processed under section 143(1) of the Act and the assessment was completed by the Assessing Officer under section 143(3) read with section 147 determining the total income at Rs. nil. ....
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.... section 10B. 5. Aggrieved, the assessee carried the matter in appeal before the Commissioner of Income-tax (Appeals). 6. Before the Commissioner of Income-tax (Appeals), the authorised representative for the assessee submitted that the assessee had got a clarification from the Joint Director, Software Technology Park of India, Hyderabad, where they have clearly mentioned that they have the power to grant approval and their approval is eligible to get exemption under section 10B of the Act. It was also intimated by them that in all the approvals given by them, a copy of the approval was being sent to IMSC (Inter Ministerial Standing Committee) for ratification. The authorised representative also submitted that the Assessing Officer fa....
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...., the Revenue is in appeal before us and has raised the following grounds of appeal : "1. The order of the Commissioner of Income-tax (Appeals) is erroneous in law and on facts. 2. The learned Commissioner of Income-tax (Appeals) ought to have upheld the disallowance of section 10B, as the assessee failed to produce ratification by the Board appointed in this behalf by the Central Government in exercise of the powers conferred by section 10 of the Industries (Development and Regulation) Act, 1951. 3. The learned Commissioner of Income-tax (Appeals) should have appreciated the intent of the Central Board of Dire....
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....o occasion to consider the same. Hence, in our opinion, it is just and fair to send the issue to the file of the Assessing Officer to consider the material. Accordingly, the order of the Commissioner of Income-tax (Appeals) is set aside and the matter is remitted back to the file of the Assessing Officer for passing a de novo order in the light of the material produced by the assessee. The assessee is directed to produce necessary material before the Assessing Officer." 11. Since the issue under consideration is materially identical to that of the case decided by the coordinate bench in the case of Selectsys India P. Ltd. [2013] 22 ITR (Trib) 493 (Hyd), respectfully following the same, we set aside the order of the Commissioner of Income....