https://www.taxtmi.com/caselaws?id=181762 Deduction under section 80IB is treated as depending on the statutory conditions in that provision, not on compliance with other regulatory requirements such as a factory licence obtained later. The discussion also states that where profits of an eligible industrial undertaking are computed under the Act, a disallowance under section 40(a)(ia) increases the undertaking's business profits for the year and is reflected in the section 80IB computation. On this view, later allowance of the corresponding expenditure in a subsequent year avoids any prohibited double benefit because the deduction position adjusts with the later year's profits. en-us Tue, 13 Apr 2010 00:00:00 +0530 Sat, 23 Apr 2016 16:20:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181762 Deduction under section 80IB is treated as depending on the statutory conditions in that provision, not on compliance with other regulatory requirements such as a factory licence obtained later. The discussion also states that where profits of an eligible industrial undertaking are computed under the Act, a disallowance under section 40(a)(ia) increases the undertaking's business profits for the year and is reflected in the section 80IB computation. On this view, later allowance of the corresponding expenditure in a subsequent year avoids any prohibited double benefit because the deduction position adjusts with the later year's profits. Case-Laws Income Tax Tue, 13 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181762