https://www.taxtmi.com/caselaws?id=71514 The Tribunal allowed the appeal of the assessee, a partnership firm engaged in printing and art work, seeking exemption under section 80-I of the Income-tax Act for the assessment year 1984-85. The Tribunal interpreted the provision liberally, emphasizing that the first two conditions must be met in the initial year, while the latter two should be met annually. It rejected the revenue's proposition and aligned with the assessee's argument, citing a Gujarat High Court judgment. The Tribunal set aside the CIT(A)'s decision and directed the Assessing Officer to allow the assessee's claim under section 80-I. en-us Tue, 02 Jul 1996 00:00:00 +0530 Mon, 25 Apr 2011 13:37:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71514 The Tribunal allowed the appeal of the assessee, a partnership firm engaged in printing and art work, seeking exemption under section 80-I of the Income-tax Act for the assessment year 1984-85. The Tribunal interpreted the provision liberally, emphasizing that the first two conditions must be met in the initial year, while the latter two should be met annually. It rejected the revenue's proposition and aligned with the assessee's argument, citing a Gujarat High Court judgment. The Tribunal set aside the CIT(A)'s decision and directed the Assessing Officer to allow the assessee's claim under section 80-I. Case-Laws Income Tax Tue, 02 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71514