Kerala HC dismisses
Revenue’s appeal, holds assessee eligible for Sec. 10B benefit from AY
2000-01 i.e. the year of inception of 100% export-oriented undertaking (‘EOU’)
and not from AY 1998-99 i.e. the year on which the manufacture was
commenced; Notes that the assessee was a sole proprietorship firm, which
commenced its manufacturing business in AY 1998-99, later it was converted into
a partnership firm and was also issued a certificate of it being a 100%
EOU in AY 2000-01; HC refers to Sec. 10B and opines that the term ‘manufacture’
referred thereto “is one commenced pursuant to the certification of 100%
export-oriented undertaking.”; HC holds that in the present case, it cannot be
said that the assessee, a 100% EOU is eligible from the year in which they
commenced manufacture, since in that relevant year the assessee was not a 100%
EOU unit; HC rules that “The benefit being conferred only on a 100%
export-oriented unit, the exemption could commence only from its certification,
as such a unit and if there is no manufacture at the time of certification,
from the time of commencement of manufacture.”:HC
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