https://www.taxtmi.com/caselaws?id=379581 The High Court dismissed the revenue's appeal challenging the Income Tax Appellate Tribunal's decision on Section 80IC exemptions. It clarified that substantial expansion within 10 years allows an assessee to claim 100% deduction for 10 years, with the year of expansion becoming the new 'initial assessment year.' The court emphasized the importance of Section 80IC definitions for deduction eligibility. Previous judgments were deemed inapplicable, and the court upheld the assessee's entitlement to deductions. en-us Mon, 29 Apr 2019 00:00:00 +0530 Sat, 04 May 2019 06:20:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379581 The High Court dismissed the revenue's appeal challenging the Income Tax Appellate Tribunal's decision on Section 80IC exemptions. It clarified that substantial expansion within 10 years allows an assessee to claim 100% deduction for 10 years, with the year of expansion becoming the new 'initial assessment year.' The court emphasized the importance of Section 80IC definitions for deduction eligibility. Previous judgments were deemed inapplicable, and the court upheld the assessee's entitlement to deductions. Case-Laws Income Tax Mon, 29 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379581