Kolkata ITAT allows Sec.
10AA benefit to assessee in respect of international trading, warehousing and
consultancy income for AY 2009-10; ITAT acknowledges that trading activity
is not expressly covered u/s 10AA, but observes that as per the Special
Economic Zone Act, 2005 (SEZ Act) and its Rules, 2006, definition of
‘service’ included trading activity; Rejects Revenue’s stand that the
‘service’ definition as specified in SEZ Act cannot be imported for the purpose
of the income tax, referring to Sec. 51(1) of the SEZ Act, ITAT holds that “the
provisions as specified under the SEZ Act, 2005 would have overriding effect on
the Income Tax Act because SEZ Act is a Special Act and a later Act of the
Parliament.”, relies on co-ordinate bench ruling in assessee’s own case of
earlier year; Likewise, notes that the definition of ‘service’ under SEZ rules
include ‘warehousing activity’ also, therefore holds that the warehousing
income qualifies for exemption u/s. 10AA on the same reasoning as that given
for trading activity; Further, notes that consultancy services
rendered by assessee were intrinsically linked to the normal import-export activity
carried on by assessee and the same are covered under the head ‘other business
service’ of SEZ Rules by applying ejusdem generis:ITAT
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