2016 (4) TMI 1299

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....by the assessee against the order of CIT(A)-Mumbai, for the assessment year 2008-2009. 2. In this appeal, the assessee is aggrieved for restricting the claim of deduction u/s.10A to the extent of exports sale proceeds received upto 30-9-2008 on the plea that necessary extension of time to receive foreign exchange from RBI was not obtained by the assessee. Accordingly, CIT(A) held that export tu....

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....ified that it has not stipulated any time period for the realisation of sale proceeds for SEZ units, it can only be considered as having allowed and indefinite period for the same. Consequently, it cannot be said that the condition of Section 10A was not satisfied. 4. We have considered rival contentions and found that deduction u/a.10A was restricted to the extent of export receipts realised u....

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....nits in SEZs will continue to follow the GR/PP/SOFTEX export procedure outlined in Part B of Annexure to A.P .(DIR Series) Circular No.12 dated September 9, 2000 as amended from time to time. Further, we found that the Tribunal, Mumbai Bench, in the case of ACIT vs. Tara Jewels Exports Pvt. Ltd. in ITA No.662/Mum/2012 for A.Y. 2003-04 dated 29th January, 2014 held as under (page - 9): ....