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TMI BlogExemption u/s 80ICX X X X Extracts X X X X X X X X Extracts X X X X ..... Exemption u/s 80IC X X X X Extracts X X X X X X X X Extracts X X X X ..... mption u/s 80IC .Our asseese is a sole prop. Now our assesse has decide to convert his sole prop. in to partnership firm. Exemption period u/s 80IC is yet to be finished. Now my queery is whether the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... new partnership firm is eligible to enjoy the expemtion u/s 80IC for the remaining period or not. Reply By r.rajkumar kumar: The Reply: according to the Section 80IC it never says convert of the com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pany it says it should not be the extention of the present company hence i think convert may be permited and eligible to claim u/s 80IC since the business is in the same exemption area. Reply By dee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pak gulati: The Reply: The section speaks about undertaking and not Assessee, hence will be permitted. Reply By Amrish Gupta: The Reply: I had a talk with Dr. Girish Ahuja, he said the constitution o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the asseese hasbeen changed with this conversion. So the new partnership firm is not eligible to claim the balance period expemtion. Now by considering yours views & Mr. ahuja's views sitution is no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w contradictory.............please help to overcome this............ X X X X Extracts X X X X X X X X Extracts X X X X
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