Section 10A of the Income-tax Act, 1961 - Free trade zone (Condition precedent)

IT : Customs bonding is not a requirement or a condition precedent for granting exemption under section 10A
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[2015] 55 taxmann.com 473 (Karnataka)
HIGH COURT OF KARNATAKA
Commissioner of Income-tax
v.
Caritor (India) (P.) Ltd.*
N.KUMAR AND B. MANOHAR, JJ.
IT APPEAL NOS. 402 & 403 OF 2008
JUNE  20, 2014
Section 10A of the Income-tax Act, 1961 - Free trade zone (Condition precedent) - Whether customs bonding is not a condition precedent for granting exemption under section 10A - Held, yes - Whether once permission was obtained from STPI and unit was started in software technology park after April 1994, assessee was entitled to exemption under section 10A - Held, yes [Para 3] [In favour of assessee]