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| The Tax Publishers2020 TaxPub(DT) 0234 (Del-Trib) INCOME TAX ACT, 1961
Section 10A
From plain reading of section 10A it becomes clear that the section seeks to promote and boost new business undertakings situated in free trade zones by providing suitable deductions. It provides for 100 per cent deduction of profits and gains derived by undertakings engaged in export of articles or computer software. In the instant case, amount determined by revenue did not partake the nature of manufacturing and export of goods or articles. Hence, benefit of section 10A could not be accorded to assessee.
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Deduction under section 10A - Allowability - Deduction under section 10A on higher profits determined owing to survey operation at SEZ -
Assessee claimed deduction under section 10A on higher profits determined owing to survey operation at SEZ unit.Held: From plain reading of section 10A it becomes clear that the section seeks to promote and boost new business undertakings situated in free trade zones by providing suitable deductions. It provides for 100 per cent deduction of profits and gains derived by undertakings engaged in export of articles or computer software. In the instant case, amount determined by revenue did not partake the nature of manufacturing and export of goods or articles. Hence, benefit of section 10A could not be accorded to assessee.
REFERRED :
FAVOUR : Against the assessee.
A.Y. :
INCOME TAX ACT, 1961
Section 250(6) Rule 46A
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