The Appellate Tribunal held that though the assessee came into existence on August 4, 1998, the assessee ventured into to the operation of manufacturing software from AY. 2000-01 only. Hence, the assessee is eligible for exemption for a period of ten consecutive assessment years beginning with the AY. 2000-01 to the AY. 2009-10.(AY 2009-10)
Aspire Systems (I) P. Ltd. v. Dy. CIT (2018) 62 ITR 656 (Chennai)(Trib.)
S. 10A : Free trade zone – Period of ten consecutive years to be reckoned from year of commencement of manufacture and not from incorporation.