Tax Deduction u/s 80IC: Tribunal Supports Consistent Claims for New Unit, Not Split Business.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Disallowance of deduction u/s 80IC - new unit or came into existence by splitting up or reconstruction of a business already in existence - Principle of consistency - the assessee is eligible to claim deduction under section 80IC of the Act. More so, because this is the fourth year of claim of deduction and in the initial years the Tribunal has held that conditions of sub-section 4 of section 80IC of the Act have been fully complied with by the assessee.....