High Court Rules Section 10A Does Not Require 75% Export Sales for Tax Exemption Eligibility, Tribunal's Order Overturned.

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....Exemption u/s 10A - total export less than 75% of the total sales - the Commissioner of Income Tax (Appeals) has held that there is no provision under Section 10A of the Act, which requires such a condition to be fulfilled and no finding in this regard has been recorded by the tribunal. Therefore, the order passed by the tribunal to the extent of fulfillment of the requirement under Section 10A(2)(ia) of the Act cannot be sustained. - HC....