Case Law Details
Case Name : M/s Tirupati LPG Industries Ltd. Vs JCIT (ITAT Delhi)
Related Assessment Year : 2010-11
Courts :
All ITAT ITAT Delhi
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Brief of the Case
Section 80 IC – 100% deduction allowed on every substantial expansion, in a total period of 10 Years
ITAT Delhi held in the case of M/s Tirupati LPG Industries Ltd. vs. JCIT that a plain reading of Sec.80-IC (8)(v) which defines the term “initial assessment year” read with Sec.80-IC(8)(ix) which defines the term “substantial expansion” makes it clear that there is no restriction on more than one substantial expansion being undertaken by an assessee. In our view, a unit can undertake any number of substantial expansions, in the absence of any specific restriction in ...
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ITAT Chd Bench not accepted the above decision of Delhi Bench and disallowed the benefit of substantial expansion u/s 80IC in the case of Hycron Electronics vs ITO, Baddi : ITA NO. 798/CHD/2012.
ITAT Chd findings :- Benefit of substantial expansion u/s 80IC would be available only to those units which were in existence as on 07.01.2003