Tax holiday duration extended to ten consecutive assessment years; eight-year limit and assessee option removed. Amendment increases the period in sub-section (3) from five to ten years, omits the phrases referring to an eight-year period and years specified by the assessee at his option, removes the proviso to sub-section (3), and substitutes the Explanation to sub-section (7) so that 'relevant assessment years' means the ten consecutive assessment years referred to in sub-section (3).
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Provisions expressly mentioned in the judgment/order text.
Tax holiday duration extended to ten consecutive assessment years; eight-year limit and assessee option removed.
Amendment increases the period in sub-section (3) from five to ten years, omits the phrases referring to an eight-year period and years specified by the assessee at his option, removes the proviso to sub-section (3), and substitutes the Explanation to sub-section (7) so that "relevant assessment years" means the ten consecutive assessment years referred to in sub-section (3).
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