https://www.taxtmi.com/caselaws?id=327970 Section 80IB deduction requires the undertaking to satisfy the small scale industrial undertaking condition in each relevant assessment year; prior-year allowance does not preserve eligibility after that statutory status ceases. Deduction is therefore unavailable for years in which the undertaking no longer meets the condition. Disallowance relating to exempt income was restricted to 2% of exempt income for years in which the issue survived, with no further adjustment where the taxpayer had already disallowed a higher amount. One year's issue was not pressed. en-us Wed, 16 Mar 2016 00:00:00 +0530 Fri, 13 May 2016 16:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327970 Section 80IB deduction requires the undertaking to satisfy the small scale industrial undertaking condition in each relevant assessment year; prior-year allowance does not preserve eligibility after that statutory status ceases. Deduction is therefore unavailable for years in which the undertaking no longer meets the condition. Disallowance relating to exempt income was restricted to 2% of exempt income for years in which the issue survived, with no further adjustment where the taxpayer had already disallowed a higher amount. One year's issue was not pressed. Case-Laws Income Tax Wed, 16 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327970