https://www.taxtmi.com/caselaws?id=412458 The Tribunal upheld the CIT(A)'s decision to allow the deduction claimed under section 80IA(4) of the Income Tax Act, 1961, amounting to Rs. 2,74,36,169. The Tribunal found that the plant and machinery transferred to the assessee were new when acquired by the transferor company, and the amalgamation did not affect the eligibility for the deduction. The Revenue's appeal was dismissed, affirming the assessee's entitlement to the deduction. en-us Wed, 15 Sep 2021 00:00:00 +0530 Fri, 17 Sep 2021 20:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412458 The Tribunal upheld the CIT(A)'s decision to allow the deduction claimed under section 80IA(4) of the Income Tax Act, 1961, amounting to Rs. 2,74,36,169. The Tribunal found that the plant and machinery transferred to the assessee were new when acquired by the transferor company, and the amalgamation did not affect the eligibility for the deduction. The Revenue's appeal was dismissed, affirming the assessee's entitlement to the deduction. Case-Laws Income Tax Wed, 15 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412458