https://www.taxtmi.com/caselaws?id=351800 The court ruled that units established after 7th January 2003 and undertaking substantial expansion within the specified period are entitled to 100% deduction for five years, followed by 25% for the next five years, with a total cap of ten years under Section 80-IC of the Income Tax Act. The court clarified the definition of "substantial expansion" and the determination of the "initial assessment year," allowing for multiple expansions and initial assessment years. Units claiming deductions under Section 80-IC cannot claim deductions under other specified sections. The court directed fresh assessments for each appellant to ensure proper application of the law. en-us Tue, 28 Nov 2017 00:00:00 +0530 Wed, 22 Aug 2018 15:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351800 The court ruled that units established after 7th January 2003 and undertaking substantial expansion within the specified period are entitled to 100% deduction for five years, followed by 25% for the next five years, with a total cap of ten years under Section 80-IC of the Income Tax Act. The court clarified the definition of "substantial expansion" and the determination of the "initial assessment year," allowing for multiple expansions and initial assessment years. Units claiming deductions under Section 80-IC cannot claim deductions under other specified sections. The court directed fresh assessments for each appellant to ensure proper application of the law. Case-Laws Income Tax Tue, 28 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351800