Dismissing the appeal of the revenue the Court held that medallion is also classified as pendent hence there is no violation of condition of letter of approval by SEZ hence the aasessee is eligible for benefits of exemption . ( AY. 2011-12 , 2012 -13 )
PCIT v. Jewels Magnnum ( 2020) 120 taxmann.com 316/ 275 Taxman 134 ( Mad ) (HC) Editorial: Order in Jewels Magnnum v.ACIT ( 2016) 158 ITD 185 ( Chennai) (Trib) is affirmed .
S. 10AA : Special economic zones – Approval – Medallion – Manufacture of gold jewellery – Entitle for exemption .