2015 (4) TMI 299

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.... K K, Adv. JUDGMENT The revenue has preferred this appeal against the order dated 31st July, 2009 passed in ITA No. 470/BNG/2009 by the Tribunal upholding the order passed by the Appellate Authority granting the benefit of tax under the provisions of Section 10A of the Income Tax Act, 1961 (for short 'hereinafter referred to as 'the Act'). 2. The brief facts of the case are: That t....

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.... the Act. Accordingly, as the claim was not liable to be allowed, initiated penalty proceedings under the provisions of Section 271(1)(c) of the Act against which the assessee preferred an appeal before the Commissioner of Income Tax (Appeals)-I, Bangalore, who after hearing both the parties, by order dated 11.3.2009, has allowed the appeal in part holding that in view of CBDT Circular No.1 of 200....

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.... the Act provides for deduction from the total income of the profits derived by an undertaking from the export of articles or things or computer software for a period of ten consecutive assessment years. The tax holiday period commences with the assessment year relevant to the previous year in which the undertaking begins to manufacture or produce such articles or things or computer software. Sect....

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....to Section 10A also. In fact, the Commissioner of Income Tax (Appeals) has referred to various judgments on the point and has come to the conclusion that the benefit of Section 10A of the Act would also be available even when an existing unit gets converted into a STPI unit. In fact, the material on record discloses that no export of computer software was made before 16.10.2002. The export commenc....