Deduction u/s 80IB & 10B

[hardik damani]

As the business runs under the name of proprietor and get the deduction u/s 10B for cons. 10 years.

From the 5th year, proprietor is same but the name is different.

Assessing officer denies the give deduction u/s 10B.

Assessee can get the deduction ?

AI Summary

Business Name Change Impact on Section 10B Deduction for Proprietorship with Same Owner Explained A business operating under a proprietor's name received a deduction under Section 10B for ten consecutive years. However, from the fifth year, while the proprietor remained the same, the business name changed. The assessing officer denied the deduction under Section 10B due to this name change. The query seeks clarification on whether the deduction can still be claimed. A response from a Chartered Accountant questioned whether it was the proprietor's name or the business name that changed. The original poster clarified that the business name changed, but the proprietor and registration details remained the same.