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2014 (12) TMI 1398
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....ant Thakkar Revenue by: Shri Premanand J. O R D E R Per D. Karunakara Rao, AM These are cross appeals for AY 2007-08 filed against the order of the CIT(A)-22, Mumbai dated 03.09.2010. 2. The only issue raised by the assessee in its appeal relates to the manner of computation of deduction under section 10A by the AO and its confirmation by the CIT(A). 3. At the outset the le....
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....of Income Tax (2010) 325 ITR 102 at para 24. The submission of the Revenue placed its reliance on the literal reading of Section 10A under which a deduction of such profits and gains as are derived by an undertaking from the export of articles or things or computer software for a period of ten consecutive Assessment Years is to be allowed from the total income of the assessee. The deducti....
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....r. What the Revenue in essence seeks to attain is to telescope the provisions of Chapter VI-A in the context of the deduction which is allowable under Section 10A, which would not be permissible unless a specific statutory provision to that effect were to be made. In the absence thereof, such an approach cannot be accepted. In the circumstances, the decision of the Tribunal would have to be affirm....
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....tting off carried forward unabsorbed loss and depreciation from earlier assessment years or current assessment year either in the case of Non-STPI Unit or in the case of very same undertaking. Considering the above said proposition of law, we are of the opinion that the assessee should succeed on the ground raised before us. Assessee's grounds are allowed. 5. The Revenue has raised a couple of ....