2019 (5) TMI 1722 - SCH - Income Tax

Claim of deduction @100% u/s 80IC - initial assessment year - fresh claim on undertaking substantial expansion from the year of completion of substantial expansion - HELD THAT - The impugned judgments have relied upon a judgment of this Court in Commissioner of Income Tax vs. M/s Classic Binding Industries, 2018 (8) TMI 1209 - SUPREME COURT which has since been overruled by our judgment in Pr. Commissioner of Income Tax, Shimla vs M/s Aarham Softronics 2019 (2) TMI 1285 - SUPREME COURT delivered by a three-Judge Bench on 20.02.2019. Following the aforesaid judgment, we allow the appeals and set aside the impugned judgments of the High Court.

Summary

The Supreme Court of India, in a judgment by Mr. Rohinton Fali Nariman and Mr. Justice Vineet Saran, allowed the appeals and set aside the impugned judgments of the High Court. The decision was based on the overruling of a previous judgment by the Court.