provisions:-
―80A(4) Notwithstanding anything to the contrary contained in section
10A or section 10AA or section 10B or section 10BA or in any provisions ... case may be. Even if Section 10A / Section 10B are construed as
exemption provisions, sub-section (4) of Section 80A cannot defeat such
construction
allowing deduction u/s 10B of the Act keeping in view of the provisions of
section 72 of the Act. Section 10AA is running parallel ... explanation 2(iv) to Section
10A of the Act is para materia to explanation 1(i) to Section 10AA of the Act
with respect
raised in assessee‟s appeal
is regarding deduction under section 10AA of the Act in respect of SEZ
units of the assessee which commenced ... before the 1st Day of April 2021. Sub-section (4) of section 10AA of the Act
lays down certain conditions upon fulfillment of which
income after claiming deduction of Rs.2,06,33,299/-
under section 10AA Of the Act and set-off of brought forward loses ... deduction under section 10A of the Act,
whereas in the instant case, the assessee had claimed deduction under section
10AA of the Act before setting
assessee for deduction of Rs.56,25,38,852/- under section 10AA
of the Income tax Act on the ground that activities of the
assessee ... appeal relates
to the claim of assessee's deduction under Section 10AA of the Income Tax
Act. Both the parties agreed that this issue
ready reference relevant portion of section
10AA is reproduced below:
10AA. (1) Subject to the provisions of this section, in computing the total income ... countries in view of provisions of section 2(z) of SEZ
Act, 2005 r/w Section 27 and section
income after claiming deduction
of `3,61,19,032/- under section 10AA of the Income Tax Act, 1961 (in short ... Section 51 of the SEZ Act and found that
trading done by the assessee is a service and, therefore, deduction
under Section 10AA is allowable
assesses claim of deduction under Sec.10AA of the I.T
Act. As per the facts discernible from the orders of the lower
authorities ... stands revealed that the assessee had claimed
deduction under Sec.10AA in respect of the eligible units at
Rs. 48,13,86,995/-, as against
scope of section
10AA is wider than section 10A. Sub section (1) of section 10AA
provides that subject to the provisions of this section ... provisions of section 10AA of the
Act: -
"10AA. (1) Subject to the provisions of this section, in computing the total
income of an assessee
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
