Tax Authority Correctly Applies New vs. Old Machinery Test for Section 80IC Deductions in First Year of New Undertaking Formation. https://www.taxtmi.com/highlights?id=43739 Deduction u/s.80IC - CIT(A) has correctly applied the test of new machinery vis-à-vis old machinery in the year of the formation of the new undertaking i.e. the year one and not in the subsequent years. en-us Mon, 07 Jan 2019 12:25:50 +0530 Mon, 07 Jan 2019 12:25:50 +0530 TaxTMI RSS Generator Tax Authority Correctly Applies New vs. Old Machinery Test for Section 80IC Deductions in First Year of New Undertaking Formation. https://www.taxtmi.com/highlights?id=43739 Deduction u/s.80IC - CIT(A) has correctly applied the test of new machinery vis-à-vis old machinery in the year of the formation of the new undertaking i.e. the year one and not in the subsequent years. Highlights Income Tax Mon, 07 Jan 2019 12:25:50 +0530 https://www.taxtmi.com/highlights?id=43739