https://www.taxtmi.com/caselaws?id=360714 Section 80-IC operates as a distinct deduction regime for eligible units, and the "initial assessment year" is the year in which substantial expansion is completed. The ten-year ceiling in Section 80-IC(6) does not require earlier deductions under Sections 80-IA and 80-IB to be clubbed against a unit outside the North-Eastern Region, because that aggregation language is tied to the special North-Eastern provisions in the statute. The Revenue's reliance on Section 15C of the 1922 Act was treated as inapposite to this statutory scheme. On that reasoning, deduction under Section 80-IC remained available for the relevant years, and the disallowance based on prior deductions was unsustainable. en-us Fri, 18 May 2018 00:00:00 +0530 Mon, 27 Aug 2018 14:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360714 Section 80-IC operates as a distinct deduction regime for eligible units, and the "initial assessment year" is the year in which substantial expansion is completed. The ten-year ceiling in Section 80-IC(6) does not require earlier deductions under Sections 80-IA and 80-IB to be clubbed against a unit outside the North-Eastern Region, because that aggregation language is tied to the special North-Eastern provisions in the statute. The Revenue's reliance on Section 15C of the 1922 Act was treated as inapposite to this statutory scheme. On that reasoning, deduction under Section 80-IC remained available for the relevant years, and the disallowance based on prior deductions was unsustainable. Case-Laws Income Tax Fri, 18 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360714