https://www.taxtmi.com/caselaws?id=370100 The court dismissed the appellant-assessee's challenge regarding entitlement to enlarged deduction under Section 80IC of the Income Tax Act for units set up after 07.01.2003. It upheld that units cannot claim a second period of 100% deduction after substantial expansion if they have already availed it for the initial five years. The court affirmed that substantial expansion does not reset the initial assessment year or extend the 100% deduction period beyond the first five years. The appeal was dismissed, reinforcing legal principles established by higher judicial authorities. en-us Wed, 26 Sep 2018 00:00:00 +0530 Fri, 09 Nov 2018 19:04:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370100 The court dismissed the appellant-assessee's challenge regarding entitlement to enlarged deduction under Section 80IC of the Income Tax Act for units set up after 07.01.2003. It upheld that units cannot claim a second period of 100% deduction after substantial expansion if they have already availed it for the initial five years. The court affirmed that substantial expansion does not reset the initial assessment year or extend the 100% deduction period beyond the first five years. The appeal was dismissed, reinforcing legal principles established by higher judicial authorities. Case-Laws Income Tax Wed, 26 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370100