https://www.taxtmi.com/caselaws?id=288629 The ITAT allowed the assessee's appeal, granting a 100% deduction under Section 80IC for the seventh assessment year due to substantial expansion, overriding the AO and CIT(A)'s 30% restriction. The Tribunal clarified that multiple substantial expansions can reset the initial assessment year within a ten-year limit. The issue of classifying interest income was remanded to the AO for further examination to determine if it qualifies as business income. The orders of the revenue authorities were quashed. en-us Wed, 10 Feb 2016 00:00:00 +0530 Thu, 14 Nov 2024 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288629 The ITAT allowed the assessee's appeal, granting a 100% deduction under Section 80IC for the seventh assessment year due to substantial expansion, overriding the AO and CIT(A)'s 30% restriction. The Tribunal clarified that multiple substantial expansions can reset the initial assessment year within a ten-year limit. The issue of classifying interest income was remanded to the AO for further examination to determine if it qualifies as business income. The orders of the revenue authorities were quashed. Case-Laws Income Tax Wed, 10 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288629