2012 (11) TMI 1122

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....an Prasad, CIT DR ORDER PER JOGINDER SINGH, JUDICIAL MEMBER The Revenue is aggrieved by the impugned order dated 29.11.2011 on the ground that on the facts and in the circumstances of the case, the learned first appellate authority erred in overlooking the fact that assessee is engaged in the business of export of computer software from two units, one at Chennai and other at Delhi, on whi....

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....d. The facts, in brief, are that the assessee company is engaged in export of computer software, filed its e.return declaring income of `5,18,353/- on 25.10.2007. The assessee is having two 100% export oriented units situated at Chennai and Delhi. During the year, the assessee claimed deduction of `3,03,94,780/- under section 10B of the Act. The return of the assessee was filed in Form 56G as pres....

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.... into India in convertible foreign exchange within the stipulated period. Even the Assessing Officer has not doubted or disputed any of the contents of the certificate. In view of these facts, we are analyzing the language used in section 10B of the Act. Sub-section (1) of section 10B provides for a deduction of such profit derived by a 100% export oriented undertaking from the export of articles ....

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...., therefore, it does not qualify for deduction u/s 10B is also not proper because the amendment in section 10B w.e.f. 1.4.2001 is very clear and after such amendment, the export of computer software / programme is also eligible for deduction under the section, subject to the conditions laid down therein. Even otherwise, there is uncontroverted finding in the impugned order that such conditions hav....