Dismissing the appeal of the revenue the Court held that Shifting of undertaking to another place with approval of authorities is not a case of splitting up or reconstruction of business. Entitled to exemption.( AY. 2000-01 to 2002-03)
CIT v. S. R. A. Systems Ltd. (2021) 431 ITR 294/199 DTR 57/ 320 CTR 511/ 280 Taxman 164 (Mad)(HC)
S. 10A : Free trade zone – Shifting of undertaking to another place with approval of authorities — Not a case of splitting up or reconstruction of business —Entitled to exemption.[ S.10B(2)(ii) ]