{"id":12064,"date":"2020-09-02T12:49:13","date_gmt":"2020-09-02T12:49:13","guid":{"rendered":"http:\/\/itatonline.org\/digest\/california-software-co-ltd-v-cit-2020422-itr-514-107-cch-0458-madhc\/"},"modified":"2021-03-22T17:12:48","modified_gmt":"2021-03-22T11:42:48","slug":"california-software-co-ltd-v-cit-2020422-itr-514-107-cch-0458-madhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/california-software-co-ltd-v-cit-2020422-itr-514-107-cch-0458-madhc\/","title":{"rendered":"California Software Co. Ltd. v. CIT (2020)422 ITR 514 \/ 107 CCH 0458 \/ 275 Taxman 158 (Mad)(HC)"},"content":{"rendered":"<p>The assessee reversed\u00a0\u00a0 the entry with regard to the stock option given to the employees\u00a0 and claimed exemption treating the said the income was in the nature of export income. The Tribunal decided against the assessee .On appeal the Court held that the income brought to tax under S. \u00a041\u00a0by \u00a0reversal of the entry with regard to the stock option given to the employees was in the nature of export income and therefore, the assessee was entitled to exemption. Under S.\u00a010A\u00a0\/\u00a010B\u00a0 of the Act .<\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 10A : Free trade zone &#8211;  Export oriented undertakings &#8211;  Remission or cessation of trading liability \u2013  Profits derived from export- Reversal of the entry with regard to the stock option given to the employees was in the nature of export income- Entitled to exemption.  [ S.10B , 41(1) ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12064","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-38A","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=12064"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12064\/revisions"}],"predecessor-version":[{"id":15840,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12064\/revisions\/15840"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=12064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=12064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=12064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}