Hon’ble Orissa High Court upheld the view of the lower authorities in denying the exemption claimed under section 10B of the Act by observing that the assessee has filed Form 56F which is relevant for claiming deduction under section 10A of the Act. Thus, the assessee has not satisfied the mandatory requirement under section 10B(5) of the Act of filing Form-56G. Hence, exemption under section 10B of the Act cannot be allowed. (AY. 2011-12)
Discoverture Solutions (India) Pvt. Ltd. v. Dy. CIT (2023) 455 ITR 151/ 225 DTR 491 / 147 taxmann.com 262 / 332 CTR 635 (Orissa)(HC)
S. 10B : Export oriented undertakings-Filing of Form 56G is mandatory requirement-Denial of exemption is justified. [S. 10A, 10B(5), Form 56F, 56G]