https://www.taxtmi.com/caselaws?id=245487 The High Court upheld the Tribunal's decision to allow the deduction under Section 80IB and the entitlement to depreciation under Section 32(1) of the Act for the assessee. The Court emphasized that the deduction under Section 80IB is linked to the business itself and should be allowed as long as the conditions are met, irrespective of the mode of transfer. Additionally, the Court ruled that the assessee, having acquired possession and dominion over the unit/industrial undertaking, was entitled to depreciation, emphasizing actual possession over formal title deeds. en-us Mon, 10 Mar 2014 00:00:00 +0530 Fri, 06 Jun 2014 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245487 The High Court upheld the Tribunal's decision to allow the deduction under Section 80IB and the entitlement to depreciation under Section 32(1) of the Act for the assessee. The Court emphasized that the deduction under Section 80IB is linked to the business itself and should be allowed as long as the conditions are met, irrespective of the mode of transfer. Additionally, the Court ruled that the assessee, having acquired possession and dominion over the unit/industrial undertaking, was entitled to depreciation, emphasizing actual possession over formal title deeds. Case-Laws Income Tax Mon, 10 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245487