Section 80-I deduction allowed on conversion of partnership to private limited company

Micromation Pvt Ltd Vs CIT (Punjab and Haryana High Court) Punjab and Haryana High Court held that the benefit of Section 80-I upon the conversion of a proprietorship concern or the partnership firm to a Private Limited Company, is answered in favour of the assessee. Accordingly, deduction u/s. 80-I allowed on conversion of partnership to private limited company. Facts- The appellant company filed the return declaring income of Rs.1,88,100/- on 31.12.1990, which was selected for scrutiny and the respondents disallowed the deduction claimed by the appellant u/s. 80(I) of the Income Tax Act, 196...