Bengaluru Classified as Urban Area u/s 54G; Assessee Entitled to Tax Deductions for Industrial Relocation.

Bengaluru Classified as Urban Area u/s 54G; Assessee Entitled to Tax Deductions for Industrial Relocation. https://www.taxtmi.com/highlights?id=66296 Deduction u/s 54G - shifting of industrial undertaking - By virtue of Notification under Section 280Y(d) of the Act dated 22.09.1967, Bengaluru Corporation was declared as Urban area - As in view of the law laid down in para 39 in Fibre Boards, Bengaluru continues to be an Urban area for the purpose of Section 54G. - Assessee shall be entitled for the benefit u/s 54G of the Act. - HC en-us Tue, 01 Nov 2022 13:23:28 +0530 Tue, 01 Nov 2022 13:23:28 +0530 TaxTMI RSS Generator Bengaluru Classified as Urban Area u/s 54G; Assessee Entitled to Tax Deductions for Industrial Relocation. https://www.taxtmi.com/highlights?id=66296 Deduction u/s 54G - shifting of industrial undertaking - By virtue of Notification under Section 280Y(d) of the Act dated 22.09.1967, Bengaluru Corporation was declared as Urban area - As in view of the law laid down in para 39 in Fibre Boards, Bengaluru continues to be an Urban area for the purpose of Section 54G. - Assessee shall be entitled for the benefit u/s 54G of the Act. - HC Highlights Income Tax Tue, 01 Nov 2022 13:23:28 +0530 https://www.taxtmi.com/highlights?id=66296