https://www.taxtmi.com/caselaws?id=151415 Section 80-IB deduction depends on actual commencement of manufacture or production, not merely on the date of factory licence issuance. A licence obtained after production begins does not by itself disqualify an otherwise eligible industrial undertaking, although factory-law non-compliance may have separate consequences. Eligible profits must be computed after deducting current-year depreciation and brought-forward unabsorbed depreciation. Accordingly, a deduction claim may be sustained despite a later factory licence, but the deductible profit must be recomputed after all required depreciation adjustments. en-us Fri, 11 Dec 2009 00:00:00 +0530 Wed, 05 Jun 2013 16:22:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151415 Section 80-IB deduction depends on actual commencement of manufacture or production, not merely on the date of factory licence issuance. A licence obtained after production begins does not by itself disqualify an otherwise eligible industrial undertaking, although factory-law non-compliance may have separate consequences. Eligible profits must be computed after deducting current-year depreciation and brought-forward unabsorbed depreciation. Accordingly, a deduction claim may be sustained despite a later factory licence, but the deductible profit must be recomputed after all required depreciation adjustments. Case-Laws Income Tax Fri, 11 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151415