Economic Zones Act, 2005. The
Petitioner has been allowed deduction under Section 10AA of the Income
Tax Act, 1961 ('Act') since Assessment Year ... eligible unit') is eligible to claim
deduction under Section 10AA. Following the decision of the Supreme
Court of India in CIT v. Yokogawa India
which no tax has been paid
as he claimed exemption u/s 10AA under the garb of export of
services. During the course of examination ... providing
Profession business services. The assessee has claimed deduction
u/s 10AA of the IT Act, 1961 for this concern M/ s Sterling Export
assessee LLP has claimed huge deduction u/s. 10AA of
Rs.10,95,87,033/- and the claim needs to be considered for
thorough verification ... selected for
complete scrutiny involving claim of huge deduction u/s. 10AA
with consequent result of refund. The assessee LLP has started
being a retired Government employee was eligible for exemption
under Section 10(10AA) of the Act for the entire amount received as leave
Signature ... exemption of only Rs.3,00,000/- only under
Section 10(10AA) of the Act following the amount given in the Form 16
issued
return of income
for any deduction under Section 10A or Section 10AA or Section
10B or Section 10BA or under any provision of this chapter
head of 'Leave Encashment' would
be exempt under Section 10(10AA) of the Income Tax Act, 1961
This is a digitally signed order ... entitled for the full exemption
of leave encashment under section 10(10AA) of the I.T. Act as
claimed by the assessee. Therefore, the application
utilised in India and thus not liable to exemption contemplated
under Section 10AA of the Act.
7. He submits that, being the position, the Tribunal
respective Learned Tribunal/
Respondent and allow the Petitioner/Assessee exemption under
section 10AA of the Income
lakhs is exempted from income tax.
He relies on Section 10 (10AA)(ii) of the Income Tax Act, 1961, and a
notification of Department
written submissions in support
of the deduction claimed under Section 10A / 10AA of the Income Tax Act,
1961, was considered by the Assessing Officer
