S. 80IC: Despite substantial expansion there cannot be two initial A.Y.

Section 80IC: Despite substantial expansion there cannot be two initial Assessment Year Brief facts of the case are that the assessee is a proprietor of two concerns i.e. M/s Alpine Steels and M/s Virat Steels. Both the units were manufacturing interlinked chains and barbed wires and came into production with effect from 18-06-2004. The assessee had been claiming deduction u/s 801C of the Act since A.Y. 2005-06, and this was the sixth year of production of both the units. During the impugned assessment year the assessee had undertaken substantial expansion in both the units by way of addition...