2011 (5) TMI 1122

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.... SAINI, A.M :- This appeal filed by the Revenue is directed against the order passed by the ld. CIT(A)-XII, Chennai dated 29.11.2010 for Assessment Year 2004-05. 2. The sole issue involved in this appeal is that the Commissioner of Income-tax [Appeals] erred in allowing deduction u/s 10B of the Income-tax Act, 1961 [in short, the Act] relying on the decision of the Tribunal in the case of M/....

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.... of the Act to the assessee for the reason that assessee was not engaged in the manufacture of any article or thing within the meaning of the said section and that the Assessing Officer also did not treat the sale of the assessee to another 100% Export Oriented Unit as export for the reason that assessee had not received the sale proceeds in convertible foreign exchange. 6. In appeal, the Commi....

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.... another 100% Export Oriented Unit was export of goods making the appellant eligible for claim of deduction u/s 10B on this sales also. He also held that the proceeds of sale to 100% Export Oriented Unit was received by the assessee in convertible foreign exchange, and therefore, directed the Assessing Officer to consider the sale of granite monuments made to another 100% Export Oriented Unit at p....