Initial assessment year: assessee's chosen first year governs ten consecutive years' deduction entitlement under section 80IA. The term initial assessment year means the first assessment year opted for by the assessee for claiming the ten consecutive-year deduction; once opted, the assessee is entitled to claim deduction for ten consecutive years beginning from that chosen year, subject to statutory conditions, without exceeding the overall prescribed ceiling and with the claim period being continuous. Assessing officers must allow deduction accordingly after verifying conditions and refrain from pursuing litigation that treats the year of commencement as the initial assessment year contrary to this interpretation.