disallowance made by the Assessing Officer on account of
exemption under section 10AA of the Income Tax Act, 1961
without properly appreciating the factual ... u/s. 143(3) , that the AO considered the issue as to whether
the assessee was at all eligible for the benefit u/s 10AA
assigned to it in Section 2(r) of SEZ
Act. Various definitions including 'manufacture' given in section 10AA is nothing but
definitions provided ... provisions of Section 51 of
the SEZ Act, 2005, the term service for the purpose of Section 10AA,
deriving its meaning from Rule
deduction under section 10A or section 10B or section 10BA of the
Act and not in the case of section 10AA ... same time, section 155(11A) of the Act permits amendment of
deduction claimed under section 10A , section 10B and section 10BA
manufacturing produce" "provide any
services" used in section 10AA should be interpreted
in continuity ar coherently to put into effect the spirit ... intention of the legislature in provide for a
deduction under section 10AA of the Income-tax Act,
1961?"
3. "Whether on the facts
services in section
2(z) of The Special Economic Zones Act, 2005 is not acceptable, since,
while inserting section 10AA ... definition of the term service as
per section 2(z) was not included in section 10AA of the Act. The
Assessing Officer observed, since
Asst Cit (Ltu) 2, Mumbai vs Reliance Industries Ltd, Mumbai on 28 September, 2018
IN
eligible for
exemption u/s 10AA of the Act. As per Section 10AA(5) of the Act,
2
ITA. No.6198/M/16 & 6199 ... Explanation sub- section 288 of the Act, certifying that
the deduction has been claimed in accordance with law provision
exemption u/s 10AA
words
"manufacturing "produce or provide any services used in
section 10AA should be interpreted in continuity and coherently
to put into effect ... appellant was not
eligible for such deduction. As per section 10AA of the Act, an
assessee being an entrepreneur as referred to in section
assessee
company has claimed the deduction u/s 10AA of the I.T. Act, 1961 of
Rs.69,31,997/- in original return of income ... claim of deduction was raised on account of
the amendment introduced u/s 10AA of the Act by Finance
account of deduction claimed u/s. 10AA of the
Income Tax Act, 1961.
2. On the facts and in the circumstances of the case ... could not be
treated as an entrepreneur within the meaning of Section 10AA
