Transferee Undertaking Eligible for Deduction u/s. 80IA(4) for Remaining Period: ITAT Mumbai

DCIT Vs Olympia Tech Park (Chennai) Private Limited (ITAT Mumbai) ITAT Mumbai held that in case of transfer of undertaking deduction u/s. 80IA(4) of the Income Tax Act for remaining unexpired period duly admissible to transferee when transferor and transferee should jointly intimate to the Department of Industrial Policy and Promotion. Facts- The assessee M/s. Khivraj Tech Park is a partnership firm. The case was selected for scrutiny and during the course of assessment proceedings, AO called upon the assessee to furnish necessary evidences to justify deduction claimed u/s. 80IA(4)(iii) of the...