2019 (8) TMI 1066

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....Tax<br>MR AJAY TEWARI AND MR AVNEESH JHINGAN, JJ. For The Applicant-Appellant : Ms. Radhika Suri, Senior Advocate with Mr. Manpreet Singh Kanda, Advocate For The Revenue : Mr. Yogesh Putney, Advocate and Mr. Ajiteshwar Singh, Advocate ORDER AJAY TEWARI, J. (Oral) This order shall dispose of above mentioned two review applications. Since common questions of law and facts are involved....

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....me into existence after 7.1.2003 by stating that initial assessment year can't be re-fixed? iv) Whether the ld. Income Tax Appellate Tribunal is right in law and facts in holding that definition of initial assessment year does not allow the undertaking to claim deduction under Section 80IC at the rate of 100% upon their substantial expansion?" The present application has been filed by ....

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....re is no quarrel with this proposition of law in the abstract but in the present case what has emerged is that the original judgment of this Court (decided on 06.09.2018) was based on the decision of the Supreme Court in M/s Classic Binding Industries (supra). However, in the subsequent decision in M/s AARHAM Softronics (supra) the Supreme Court specifically noticed that in M/s Classic Binding Ind....