Deduction u/s 80IC - existence of multiple “initial assessment ...

Taxpayer Eligible for 100% Deduction from A.Y. 2009-10 Due to Section 80IC Misinterpretation by AO on Substantial Expansion.

July 31, 2021

Case Laws Income Tax AT

Deduction u/s 80IC - existence of multiple “initial assessment years” - AO has simply misunderstood the amendment brought u/s. 80IC and further misunderstood “the substantial expansion” brought by the assessee from A.Y.2009-10. In our considered opinion in the light of the notification issued by the Ministry of Commerce and Industry and in the light of the amendment brought in the Act u/s. 80IC of the Act, the eligibility of 100% deduction would start from initial A.Y. 2009-10. - AT

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Deduction u/s 80IC - existence of multiple “initial assessment ...

Taxpayer Eligible for 100% Deduction from A.Y. 2009-10 Due to Section 80IC Misinterpretation by AO on Substantial Expansion.

July 31, 2021

Case Laws Income Tax AT

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