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TMI Blog2019 (8) TMI 1065X X X X Extracts X X X X X X X X Extracts X X X X ..... COURT] and it is held that as regards questions of law claimed regarding claim of 100% deduction under Section 80IC of the IT Act for the relevant assessment years are answered in favour of the Assessee and against the Revenue. - RA-CR-26-2019 in ITA-214-2016 (O&M), RA-CR-29-2019 in ITA-342-2017 (O&M), RA-CR-30-2019 in ITA-351-2017 (O&M), RA-CR-31-2019 in ITA-343-2017 (O&M), RA-CR-32-2019 in ITA-344-2017 (O&M), RA-CR-33-2019 in ITA-332-2015 (O&M) - - - Dated:- 16-8-2019 - MR AJAY TEWARI AND MR AVNEESH JHINGAN, JJ. ITA-214-2016 (O M), RA-CR-35-2019 in ITA-217-2017 (O M) And RA-CR-43-2019 in ITA-113-2018 (O M) For The Applicant-Appellant : Ms. Radhika Suri, Senior Advocate with Mr. Manpreet S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... up after 7.1.2003 would not be entitled to enlarged deduction under section 80IC of the Act @ 100% of profit, even on undertaking substantial expansion within the specified period? iii) Whether on the facts and in the circumstances of the case, the Tribunal erred in law in disallowing the benefit of substantial expansion under Section 80IC to the units that came into existence after 7.1.2003 by stating that initial assessment year can t be refixed for such units? iv) Whether on the facts and in the circumstances of the case, the Tribunal erred in law in not following the decision of the coordinate benches of the Tribunal, without referring the matter to the larger bench? v) Whethe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of the Supreme Court in M/s Classic Binding Industries (supra) . However, in the subsequent decision in M/s AARHAM Softronics (supra) the Supreme Court specifically noticed that in M/s Classic Binding Industries (supra), it omitted to take note of the definition of 'initial assessment year' contained in Section 80IC and instead based its conclusion on the definition contained in Section 80IB and specifically held that the decision in M/s Classic Binding Industries (supra) does not lay down the correct law. In this view of the matter, though the argument raised by the counsel for the revenue can not be said to be technically wrong but in case this plea is accepted it would only lead to multiplicity ..... X X X X Extracts X X X X X X X X Extracts X X X X
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