The Commissioner of Income-tax, Bengaluru / The Income-tax Officer, Ward-11(1), Bengaluru v. Aptuit Informatics India Pvt. Ltd. (Now Merged With Laurus Labs Pvt. Ltd.)
[Citation -2020-LL-0625-8]
| Citation | 2020-LL-0625-8 |
|---|---|
| Appellant Name | The Commissioner of Income-tax, Bengaluru / The Income-tax Officer, Ward-11(1), Bengaluru |
| Respondent Name | Aptuit Informatics India Pvt. Ltd. (Now Merged With Laurus Labs Pvt. Ltd.) |
| Court | HIGH COURT OF KARNATAKA |
| Relevant Act | Income-tax |
| Date of Order | 25/06/2020 |
| Assessment Year | 2008-09 |
| Judgment | View Judgment |
| Keyword Tags | export promotion industrial park • benefit of deduction • sister concern • amalgamation • stpi unit • merger |
| Bot Summary: | 3 Sri Nageshwar Rao, learned counsel for respondent assessee through video conference. Whether the Tribunal on the facts and in the circumstances of the case and in Law was correct in holding that the assessee is entitled to the benefit of deduction u/s 10A even though there is no continuation of business by the assessee as the STPI unit was taken over by way of acquiring the STPI license from its sister concern and not 4 by way of amalgamation or merger as per section 10A 2. Whether the Tribunal on the facts and in the circumstances of the case and in Law was correct in holding that the assessee company has not violated the conditions stated in Section 10A(2)(ii) and 10A(7A) and it was only an organizational change without a change in the place, form or business of the unit 3. Similar substantial questions of law were framed in I.T.A.No. 293/2012, wherein, this Court by order passed today, has answered the aforementioned substantial questions of law in favour of the assessee and against the Revenue, in view of the judgments dated 14.11.2018 passed by a Division Bench of this Court in I.T.A.No. For the reasons assigned in the aforesaid judgments, the substantial questions of law are 5 answered in favour of the assessee and against the Revenue. It is clarified that the benefit of deduction under Section 10A of the Income Tax Act, 1961, shall enure to the assessee for the unexpired period. |