https://www.taxtmi.com/caselaws?id=389698 The High Court of Himachal Pradesh allowed an application under Section 5 of the Limitation Act, condoning a delay of four months and two days in filing an appeal. Chief Justice L. Narayana Swamy disposed of the appeal promptly. The court interpreted a judgment on deductions under Section 80IC for new units in Himachal Pradesh, clarifying the definitions of 'initial assessment year' and addressing deduction rates for undertakings setting up new units and substantial expansions. The court aligned its decision with the apex Court's interpretation, providing clarity on deductions for eligible undertakings in Himachal Pradesh. en-us Tue, 10 Dec 2019 00:00:00 +0530 Sat, 14 Dec 2019 14:32:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389698 The High Court of Himachal Pradesh allowed an application under Section 5 of the Limitation Act, condoning a delay of four months and two days in filing an appeal. Chief Justice L. Narayana Swamy disposed of the appeal promptly. The court interpreted a judgment on deductions under Section 80IC for new units in Himachal Pradesh, clarifying the definitions of 'initial assessment year' and addressing deduction rates for undertakings setting up new units and substantial expansions. The court aligned its decision with the apex Court's interpretation, providing clarity on deductions for eligible undertakings in Himachal Pradesh. Case-Laws Income Tax Tue, 10 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389698