2018 (6) TMI 1395

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....i Ankur Pai, ADV.- For the Respondent JUDGMENT Both learned Counsels at the Bar submit that the issue involved in the present case is covered by the decision of the Hon'ble Supreme Court in the case of 'Commissioner of Income Tax And Another v. Yokogawa India Limited' reported in 2017 (391) ITR 374 (SC), holding that deduction under Section 10A of the Act is to be computed at the stage of co....

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....ntial change in the provisions of Section 10A/10B vide amendment by Finance Act, 2000 w.e.f. 1.4.2001. "The Hon'ble Jurisdictional High Court in the case of Yokogawa India Ltd. (supra) has considered the provisions of Section 10A/10B as amended by the Finance Act, 2000 & 2001 and after noting the change in the provisions, the Hon'ble Jurisdictional High Court has decided this issue in favour of as....

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....ces of the case and by following the decision of the Hon'ble Jurisdictional High Court in assessee's own case, we do not find any effort or illegality in the impugned order of CIT (Appeals)." 3. The Hon'ble Supreme Court in YOKOGAWA's case [supra] has held as under: "From a reading of the relevant provisions of Section 10A it is more than clear to us that the deductions contemplated th....

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....e  Act  provide  [first  proviso to Sections 10A(1); 10A (1A) and 10A (4)] that the unit that is contemplated for grant of benefit of deduction is the eligible undertaking and that is also how the contemporaneous Circular of the department (No.794 dated 09.08.2000) understood the situation, it is only logical and natural that the stage of deduction of the profits and gains of t....