https://www.taxtmi.com/caselaws?id=405936 The Tribunal dismissed the Revenue's appeal and upheld the assessee's entitlement to a deduction under Section 80IC at 100% of eligible profits for the relevant assessment year. The Tribunal clarified that there can be more than one initial assessment year under Section 80IC, particularly in cases of substantial expansion, allowing for deductions over an extended period, subject to a ten-year cap. The decision was based on legal precedents and interpretations of the relevant provisions. en-us Wed, 24 Mar 2021 00:00:00 +0530 Fri, 02 Apr 2021 09:13:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405936 The Tribunal dismissed the Revenue's appeal and upheld the assessee's entitlement to a deduction under Section 80IC at 100% of eligible profits for the relevant assessment year. The Tribunal clarified that there can be more than one initial assessment year under Section 80IC, particularly in cases of substantial expansion, allowing for deductions over an extended period, subject to a ten-year cap. The decision was based on legal precedents and interpretations of the relevant provisions. Case-Laws Income Tax Wed, 24 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405936