However, the A.O. took the view that the provisions of section
10A/10AA of the Act are a special code by themselves. Accordingly ... deduction u/s 10A of the Act does not arise. The Ld A.R
submitted that the position for section 10AA of the Act also
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
company had not complied with the condition stipulated under
sub-section (4) of section 10AA of the Act.
3. The facts ... section 10AA. The
provisions of sub-section (4) to section 10AA were inserted by the
Finance Act, 2007 with retrospective effect from 10/02/2006
Thus, any disallowance u/s 69C of the Act cannot be considered
for benefit under any other section. Further, section 10AA of the Act
considers ... disallowance made u/s 69C of the Act cannot be considered for benefit under
any other section. Further section 10AA of the Act considers
deduction under section 10A as per the provisions of
subsection (4) of the said section is similar to subsection (7) of section 10AA and
therefore ... provisions of Section 80HH of the Act
and also argued that the language of Section 80HH and Section 10AA are pari
materia in as much
same.
B. Corporate Tax
7. Disallowance of deduction claimed under section 10AA of the Act --
Chennai SEZ unit ... erred in denying the deduction under Section 10AA of the
Act amounting to Rs.181,403,235 claimed by the Appellant, by relying
various issues pertaining to Section 35D,
foreign exchange fluctuations, depreciation on computer software and
working out deduction u/s. 10AA as against assessee ... Processing
Services (supra) are given in the context of section 10A . Explanation 1 to section
10AA is as under:-
"Explanation 1 : For the purposes
aforesaid
circular will equally applies to the deductions claimed section 10AA of the
6 ITA No. 454/JP/2019
M/s Amrapali Exports, Jaipur ... have been made
u/s 69C which is a deeming provision and the same cannot be considered
for benefit u/s 10AA which is restricted
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
Special Economic Zone (SEZ) and is eligible
for claiming deduction under section 10AA of the Act. For the
assessment year under dispute, the assessee filed ... declaring total income of ` 9,64,138, after
claiming deduction under section 10AA of the Act. In the course of
assessment proceedings, the Assessing Officer
