2014 (7) TMI 716

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....kotaiah, A.M. This appeal by Revenue is directed against the order of CIT(A)-V, Hyderabad dated 12.07.2012 for the A.Y. 2004-2005. The only grievance of the Revenue in this appeal is against the action of the Ld. CIT(A) in allowing the deduction under section 10B of the I.T. Act, 1961 to the assessee which was disallowed by the A.O. on the reason that even though assessee has obtained approval ....

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....ed appeal claiming exemption under the Board Instruction as similar issue may be recurring in other years also. Therefore, we consider the appeal on merits. Ld. CIT(A) followed the Coordinate Bench decision in the case of ITO vs. M/s. Secunderabad Software Services P. Ltd. (supra) wherein this issue was discussed elaborately and allowed the deduction under section 10B holding as under : "6. We ....

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.... 13.1.2011, wherein the still earlier decision of the Tribunal in the case of Infotech Enterprises Ltd. (supra), relied by the assessing officer in the impugned assessment order has been considered and the same has been held to be inapplicable as the same has been rendered prior to issuance of Instruction No.1 dated 31.3.2006 by the CBDT and letter dated 23.3.2006 issued by the Ministry of Communi....