Deduction u/s 80IC - substantial expansion - Initial assessment ...

Case Laws Income Tax

June 26, 2021

Deduction u/s 80IC - substantial expansion - Initial assessment year - in case substantial expansion is carried out as defined in clause (ix) of Sub-section-8 of Section 80IC by such an undertaking or enterprise, within the aforesaid period of 10 years, the said previous year in which the substantial expansion is undertaken would become ‘initial assessment year’ and from that assessment year, the assessee shall be entitled to 100% deduction of profits and gains. - AT

View Source

← Previous Next →

Deduction u/s 80IC - substantial expansion - Initial assessment ...

Case Laws Income Tax

June 26, 2021

You may also like:

Deduction u/s 80IC - Since in the present case the fact that the assessee had undertaken substantial expansion is not disputed, the assessee, we hold, is entitled to...

Claim of deduction @100% u/s 80IC - initial assessment year - fresh claim on undertaking substantial expansion from the year of completion of substantial expansion - Not allowed.

Deduction u/s 80IC - ‘initial assessment year’ - whether the initial Assessment Year can be re-fixed in case of substantial expansion? - Although, the Department has...

Deduction u/s 80IC - if substantial expansion is undertaken, say, in 8th year by an assessee such an assessee would be entitled to 100% deduction for the first five...

Deduction u/s 80IC - existence of multiple “initial assessment years” - AO has simply misunderstood the amendment brought u/s. 80IC and further misunderstood “the...

The assessee's claim for deduction u/s 80IC for the finished products manufactured at Unit No. III at Paonta Sahib, Himachal Pradesh, was initially allowed but later...

Deduction u/s 80IC - substantial expansion - in terms of the provisions of the section no claim of deduction @ 100% of profits beyond the stipulated period of five years...

Deduction u/s 80IC - @ 25 % OR 100% - Claim during the 7th year - even when an old unit completes substantial expansion, such a unit also becomes entitled to avail the...

Entitlement to deduction u/s 80IC on account of substantial expansion of the unit - The restrictive meaning given by the lower authorities to deny the deduction u/s 80IC...

Disallowance of deduction u/s 80IC - new unit or came into existence by splitting up or reconstruction of a business already in existence - Principle of consistency -...

Deduction u/s. 80IA - the assets developed/created are not pertaining to the assessee - In the instant case before us, as there is no change in the facts and the...

This case involves a challenge to an order of re-assessment under the relevant tax laws. The key points are: The petitioner failed to submit monthly returns within the...

SLP against High Court decision that Two Initial Assessment Year is permissible in 80IC for 100 % deduction stand dismissed.

Once deduction at the rate of 100% for first five years on the ground that they had set up a manufacturing unit as prescribed under sub section (2) of Section 80IC has...

Disallowance of deduction claimed u/s 10AA after claiming deduction / exemption u/s 10A - SEZ unit - As on the commencement of assessment year 2006-07, which is the...

Quick Updates: