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S. 80IA: Option to claim deduction post business commencement
Case Law Details
- Case Name
- CIT Vs M/s. G.R.T. Jewellers (India) Pvt. Ltd. (Madras High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2010- 11
- Courts
- All High Courts, Madras High Court
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Brief of the Case
Madras High Court held In the case of CIT vs. M/s. G.R.T. Jewelers (India) Pvt. Ltd. that as per CBDT Circular No. 1/2016 dated 15.2.2016, it is clear that the assessee has option to claim deduction in subsequent years i.e. he can choose initial assessment year for claiming deduction even post commencement of business. It is not necessary to claim deduction starting from fist year of commencement of operations. Hence, assessee has option to choose first assessment year of claim for deduction u/s 80IA.
Facts of the Case
The following substantial questions of law were raised-
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