https://www.taxtmi.com/caselaws?id=249214 The ITAT allowed the appeals filed by the assessee for A.Y. 2006-07 & 2007-08, ruling in favor of the assessee. The decision emphasized the importance of establishing a new unit with new investments and infrastructure to claim deduction u/s 80IB. The ITAT held that the unit was not formed by reconstruction but at a new independent location with new plant and machinery, meeting all conditions under section 80-IB. The judgment clarified the distinction between reconstruction and setting up a new unit, focusing on factors like location, installation of new machinery, and investment in the new venture. en-us Fri, 13 Jun 2014 00:00:00 +0530 Tue, 08 Jul 2014 08:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249214 The ITAT allowed the appeals filed by the assessee for A.Y. 2006-07 & 2007-08, ruling in favor of the assessee. The decision emphasized the importance of establishing a new unit with new investments and infrastructure to claim deduction u/s 80IB. The ITAT held that the unit was not formed by reconstruction but at a new independent location with new plant and machinery, meeting all conditions under section 80-IB. The judgment clarified the distinction between reconstruction and setting up a new unit, focusing on factors like location, installation of new machinery, and investment in the new venture. Case-Laws Income Tax Fri, 13 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249214