9911796707
TMI Blog2025 (2) TMI 659X X X X Extracts X X X X X X X X Extracts X X X X ..... fresh claim on undertaking substantial expansion from the year of completion of substantial expansion As decided by HC [2018 (9) TMI 2155 - PUNJAB & HARYANA HIGH COURT] as per order in M/S ADMAC FORMULATIONS [2018 (10) TMI 1001 - PUNJAB AND HARYANA HIGH COURT] as relying on M/s Classic Binding Industries [2018 (8) TMI 1209 - SUPREME COURT] dealing with the issue whether the assessee who had avai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssed by the Revenue Authorities also stands set aside. X X X X Extracts X X X X X X X X Extracts X X X X ..... 80-IC of the Income Tax Act, 1961 (for short "Act 1961"). On 08.08.2013, the case of the appellant was selected for scrutiny through CASS and accordingly a notice under Section 143 (2) of the Act was issued. 7. The adjudicating authority disallowed the assessee's claim under Section 80-IC by reducing the exemption to 25% at Rs.20,36,398/- out of 100% deduction of Rs.81,45,593/- being claimed by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vs. M/s. Aarham Softronics reported in [(2020) (11) SCC 551] wherein the Court said that the decision rendered in CIT vs. Classic Binding Industries (Civil Appeal No. 7208 of 2018) is no longer a good law. 12. In such circumstances, referred to above, the appeal succeeds and is hereby allowed. The impugned order passed by the High Court is set aside and those passed by the Revenue Authorities als ..... X X X X Extracts X X X X X X X X Extracts X X X X
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