https://www.taxtmi.com/caselaws?id=758409 The Punjab & Haryana HC held that an assessee is entitled to Section 80-I deduction benefits for the unexpired period when a partnership concern is converted into a Private Limited Company continuing the same business activity. The court relied on SC precedent in Chetak Enterprises and Allahabad HC decision in Prisma Electronics regarding the scope of Section 80-I benefits upon conversion of business entities. The appeals were allowed, granting the deduction benefit to the assessee for the remaining period despite the conversion from partnership to company form. en-us Tue, 03 Sep 2024 00:00:00 +0530 Thu, 12 Sep 2024 10:27:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758409 The Punjab & Haryana HC held that an assessee is entitled to Section 80-I deduction benefits for the unexpired period when a partnership concern is converted into a Private Limited Company continuing the same business activity. The court relied on SC precedent in Chetak Enterprises and Allahabad HC decision in Prisma Electronics regarding the scope of Section 80-I benefits upon conversion of business entities. The appeals were allowed, granting the deduction benefit to the assessee for the remaining period despite the conversion from partnership to company form. Case-Laws Income Tax Tue, 03 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758409