https://www.taxtmi.com/caselaws?id=381063 Eligibility for deduction under section 80IB turns on whether the assessee satisfied the small scale industrial undertaking criteria in the relevant assessment year, and section 80IB(14)(g) requires that status to be tested by reference to the notifications issued under section 11B of the Industries (Development and Regulation) Act, 1951. The later MSMED Act regime does not automatically replace that statutory reference embedded in section 80IB. Exemption and deduction provisions must be construed strictly at the threshold stage. The matter was restored for fresh adjudication on merits after examining the applicable section 11B notifications and the correct computation of investment in plant and machinery. en-us Thu, 30 May 2019 00:00:00 +0530 Mon, 03 Jun 2019 13:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381063 Eligibility for deduction under section 80IB turns on whether the assessee satisfied the small scale industrial undertaking criteria in the relevant assessment year, and section 80IB(14)(g) requires that status to be tested by reference to the notifications issued under section 11B of the Industries (Development and Regulation) Act, 1951. The later MSMED Act regime does not automatically replace that statutory reference embedded in section 80IB. Exemption and deduction provisions must be construed strictly at the threshold stage. The matter was restored for fresh adjudication on merits after examining the applicable section 11B notifications and the correct computation of investment in plant and machinery. Case-Laws Income Tax Thu, 30 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381063