2016 (11) TMI 1596

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....nnai, dated 3.2.2016 for assessment years 2007-08 and 2010-11. Since common issue arises for consideration in both the appeals, we dispose the same by this common order for the sake of convenience and brevity. 2. All the grounds of appeals are relating to the disallowance made u/s 10A of the Income-tax Act, 1961. 3. M/s Dun & Bradstreet Predictive Sciences & Analytic Private Ltd was incorporated on 23.1.2007 as a Private Limited Company in Chennai and subsequently name of the company changed to D&B Transunion Analytic & Decision Services P. Ltd on 5.9.2008. Further it has changed its name as D&B Technologies & Data Services P. Ltd on 12.12.2012. During te financial year 2007-08, the assessee-company has entered into business transfer ....

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....lowed the exemption claimed by the assessee amounting to Rs. 64,71,046/- for assessment year 2007-08 and Rs. 7,30,24,799/- for assessment year 2010-11. 5. Aggrieved, the assessee went on appeal before the CIT(A) and the CIT(A) allowed the assessee's claim. While doing so, the CIT(A) has given a finding in his order that the entire assets of the undertaking is found to have been transferred to the assessee on lock, stock and barrel basis and there is no case for splitting up or reconstruction as advocated by the Assessing Officer. 6. In the grounds of appeal for both the assessment years 2007-08 and 2010-11, the Department has raised a ground that the Ld.CIT(A) has not considered the CBDT Circular No.1 of 2013 dated 17.1.2013. Hence, t....