SC: Admits SLP against HC-order allowing Undertaking's Sec. 10B claim despite merger

Sep 26,2019

SC admits Revenue's SLP challenging Karnataka HC-order allowing Sec. 10B deduction to assessee-firm (a 100% EOU) for AY 2009-10, whereby, HC had clarified that merger of another partnership firm (transferor, also a 100% EOU) with assessee-firm (transferee) doesn't affect assessee's Sec. 10B entitlement; HC had rejected Revenue's stand that due to merger, assessee was deploying assets already put to use by the merged firm thereby violating Sec. 10B(2)(iii) conditio...

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