Section 80IC: Substantial Expansion Marks New Initial Assessment Year, Unlocking 100% Deduction on Profits for 10 Years.

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....Deduction u/s 80IC - substantial expansion - Initial assessment year - in case substantial expansion is carried out as defined in clause (ix) of Sub-section-8 of Section 80IC by such an undertaking or enterprise, within the aforesaid period of 10 years, the said previous year in which the substantial expansion is undertaken would become ‘initial assessment year’ and from that assessment year, the assessee shall be entitled to 100% deduction of profits and gains. - AT....