2015 (5) TMI 230

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....h the learned Tribunal has dismissed the said appeal preferred by the revenue and has confirmed the order passed by the learned CIT(A) deleting the disallowance of exemption claimed under Section 10B of the Income Tax Act (hereinafter referred to as the "Act"), the revenue has preferred the present Tax Appeal with the following proposed substantial questions of law; (A) Whether the appellate tribunal is right in law and on the facts in confirming the order of the CIT(A) deleting the disallowance of deduction under Section 10B of the Income Tax Act made by the Assessing Officer by admitting additional evidence in the form of approval granted by the Board of Approval (BOA) to the alleged export oriented Unit? (B) Whether the appellate T....

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....and the same is retrospective in nature. On appeal before the learned CIT(A) on true interpretation of the CBDT instruction dated 09/03/2009, the learned CIT(A) has deleted such disallowance and held that the assessee was entitled to deduction under Section 10B of the Act as not only there was approval given by the Development Commissioner but the same was also subsequently ratified by the Board of Approval. On appeal filed by the revenue before the learned Tribunal, by the impugned judgment and order, the learned Tribunal has dismissed the said appeal confirming the order passed by the learned CIT(A) deleting the disallowance of deduction claimed under Section 10B of the Act. Feeling aggrieved and dissatisfied with the impugned judgment an....

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....ort Promotion Council for Eous & SEZS dated 14/05/2009 by which the Circular / Instruction of the CBDT dated 09/03/2009 came to be further clarified. It is submitted that as so observed in the circular / instruction of the Export Promotion Council for Eous & SEZS dated 14/05/2009 that from 1990 onwards Board of Approval has delegated the power of approval of 100% EOU to the Development Commissioner, it is submitted that therefore at the relevant time when the Development Commissioner granted the permission / approval of 100% EOU, the Development Commissioner exercised the delegated power. It is submitted that therefore the approval granted by the Development Commissioner was not required to be ratified as the Development Commissioner exerci....

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....However, it is required to be noted and it is not in dispute that vide Circular / instruction of the CBDT dated 09/03/2009 it was clarified that the approval granted by the Development Commissioner in the case of Export Oriented Unit set up in an Export Processing Zone will be considered valid, once such an approval is ratified by the Board of Approval for EOU Scheme. In the present case, it is not in dispute that the permission / approval granted by the Development Commissioner has been ratified by the Board of Approval, may be subsequently. The moment the decision / approval of the Development Commissioner is ratified by the Board of Approval it will relate back to the date on which the approval was granted by the Development Commissioner....