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| The Tax Publishers2020 TaxPub(DT) 0927 (Visakhapatnam-Trib) INCOME TAX ACT, 1961
Section 10AA
Trading activity in the nature of import and re-export of goods fell within the definition of term 'services' under section 10AA, consequently, assessee was eligible for exemption under section 10AA towards export profit derived from eligible unit located at SEZ.
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Deduction under section 10AA - Allowability - SEZ unit engaged in trading activity, i.e., import and re-export of goods -
Question arose for consideration was whether benefit of exemption under section 10AA was available to assessee's unit in SEZ engaged in trading activity in the nature of import and re-export of goods. Held: Trading activity in the nature of import and re-export of goods fell within the definition of term 'services' under section 10AA, consequently, assessee was eligible for exemption under section 10AA towards export profit derived from eligible unit located at SEZ.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2014-15
INCOME TAX ACT, 1961
Section 195
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