https://www.taxtmi.com/caselaws?id=766287 The HC held that for claiming deduction under Section 80IC, the assessee is not required to have an agreement with the Central, State, or local authorities, contrary to the Tribunal's finding. The court clarified that Section 80IC(2)(b)(ii) mandates only that the undertaking be engaged in specified manufacturing activities within prescribed periods and states, without requiring governmental agreements. The Tribunal erred in imposing such a condition and in applying provisions of Section 80IA unrelated to the assessee's claim. The HC set aside the Tribunal's direction to remit the matter to the AO for examining approvals and rejected the Revenue's attempt to raise issues not previously argued before the AO or CIT(A). The decision was rendered against the Revenue. en-us Fri, 07 Feb 2025 00:00:00 +0530 Mon, 04 Aug 2025 18:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766287 The HC held that for claiming deduction under Section 80IC, the assessee is not required to have an agreement with the Central, State, or local authorities, contrary to the Tribunal's finding. The court clarified that Section 80IC(2)(b)(ii) mandates only that the undertaking be engaged in specified manufacturing activities within prescribed periods and states, without requiring governmental agreements. The Tribunal erred in imposing such a condition and in applying provisions of Section 80IA unrelated to the assessee's claim. The HC set aside the Tribunal's direction to remit the matter to the AO for examining approvals and rejected the Revenue's attempt to raise issues not previously argued before the AO or CIT(A). The decision was rendered against the Revenue. Case-Laws Income Tax Fri, 07 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766287