The Tax Publishers2020 TaxPub(DT) 4099 (Ctk-Trib)

INCOME TAX ACT, 1961

Section 10B

The issue requires reconsideration by AO in the light of factual matrix to consider intention of the assessee to export mineral which is abundantly available in the particular area insofar as an effort in manufacturing the same whether could entitle it to claim deduction under section 10B, is to be reconsidered.

Exemption under section 10B - 100 per cent EOU - Allowability -

Assessee was engaged in beneficiation of chrome ore and claimed exemption under section 10B. AO denied exemption on the ground that assessee was engaged only in the business process of removing impurities from lower grade chrome ores through and benefication process which did not bring out any new article or thing with a different chemical composition. Held: Matter was remanded to AO for reconsideration of the intention of the assessee to export mineral which was abundantly available in the particular area insofar as an effort in manufacturing the same whether could entitle it to claim deduction under section 10B of the Act or not.

REFERRED : Anand Exports v. ACIT [ITA No. 214/CTK/2014, dt. 29-5-2015] Biswajit Das v. ACIT [Stay Petition No.21 and 22/CTK/2013 I.T.A.No.157 & 158/CTK/2013, dt. 13-6-2013] ITA Nos. 157 & 158/CTK/2013 and ITA Nos. 257 & 258/CTK/2013, Order, dated 31-12-2013

FAVOUR : Matter remanded.

A.Y. : 2009-10



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