2016 (12) TMI 251 - SCH - Income Tax

Claim of deduction u/s 80IA - initial assessment year - HC order 2016 (4) TMI 259 - MADRAS HIGH COURT stating once such initial assessment year has been opted for by the assessee, he shall be entitled to claim deduction u/s 801A for ten consecutive years beginning from the year in respect of which he has exercised such option subject to the fulfillment of conditions prescribed in the section. Hence, the term initial assessment year would mean the first year opted for by the assessee for claiming deduction u/s 80IA - Held that - The special leave petition is dismissed. Pending application, if any, stands disposed of.