Tribunal held that  the condition regarding the formation was required to be established in the initial year alone. Thus, the satisfaction of the conditions in section 10AA(4) are required to be satisfied in the year of formation. The assessee was eligible to claim deduction  on the incremental income arising pursuant to the advanced pricing agreement. The Panel was to grant deduction under section 10AA to the extent of sale proceeds received from the export of software services brought into India in convertible foreign exchange within the stipulated period.  (AY. 2013-14)