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          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

          Provisions expressly mentioned in the judgment/order text.

          <h1>Tax deduction for industrial undertakings: allowance for profits from new qualifying undertakings across initial and subsequent assessment years.</h1> A deduction is allowed from profits and gains of qualifying industrial undertakings, ships, hotels, and approved repair businesses that begin operations within specified periods and meet formation, ownership, capital and approval conditions; the deduction applies in the initial assessment year and prescribed succeeding years, is computed on the basis that the eligible source is the only income source, requires account audit for non company assessees, and permits market value adjustments and Assessing Officer determinations where transfers or related party arrangements distort profits.

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