https://www.taxtmi.com/caselaws?id=247588 The High Court dismissed the appeal challenging the disallowance of deductions under Section 80IB of the Income Tax Act for profits from industrial undertakings. The Court found that the appellant's manufacturing activities, particularly in the tobacco industry, did not meet the statutory requirements for claiming deductions. It emphasized the importance of fulfilling the conditions specified in the legislation and clarified that Section 80IA incentives for infrastructure development did not apply. The Court concluded that the appeal did not raise any substantial question of law and upheld the disallowance of deductions for the appellant's industrial undertakings. en-us Mon, 05 May 2014 00:00:00 +0530 Fri, 16 May 2014 13:09:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247588 The High Court dismissed the appeal challenging the disallowance of deductions under Section 80IB of the Income Tax Act for profits from industrial undertakings. The Court found that the appellant's manufacturing activities, particularly in the tobacco industry, did not meet the statutory requirements for claiming deductions. It emphasized the importance of fulfilling the conditions specified in the legislation and clarified that Section 80IA incentives for infrastructure development did not apply. The Court concluded that the appeal did not raise any substantial question of law and upheld the disallowance of deductions for the appellant's industrial undertakings. Case-Laws Income Tax Mon, 05 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247588