https://www.taxtmi.com/caselaws?id=352103 A deduction under Section 80-IB for a small scale industrial undertaking depends on the undertaking continuing to satisfy the statutory eligibility conditions in the relevant assessment year. Because each assessment year is a separate unit, the benefit cannot be carried forward once the undertaking ceases to fall within the defined class, even if it qualified in the initial year. Liberal construction of an incentive provision cannot override clear statutory requirements. The assessee was therefore not entitled to claim the deduction for a year in which the qualifying status had been lost. en-us Tue, 05 Dec 2017 00:00:00 +0530 Thu, 17 Jul 2025 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352103 A deduction under Section 80-IB for a small scale industrial undertaking depends on the undertaking continuing to satisfy the statutory eligibility conditions in the relevant assessment year. Because each assessment year is a separate unit, the benefit cannot be carried forward once the undertaking ceases to fall within the defined class, even if it qualified in the initial year. Liberal construction of an incentive provision cannot override clear statutory requirements. The assessee was therefore not entitled to claim the deduction for a year in which the qualifying status had been lost. Case-Laws Income Tax Tue, 05 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352103