ITAT Delhi Upholds Section 80-IC Deduction for Lotus Herbals; Bogus Expansion Claims Rejected

DCIT Vs Lotus Herbals Colour Cosmetics (ITAT Delhi) ITAT Delhi Upholds Section 80-IC Deduction for Lotus Herbals Unit; Allegations of Bogus Expansion and Business Shifting Rejected The Delhi Bench of the Income Tax Appellate Tribunal dismissed the Revenue’s appeals for AYs 2018-19 and 2019-20 in the case of Lotus Herbals Colour Cosmetics, thereby affirming the CIT(A)’s order allowing deduction under Section 80-IC in respect of the assessee’s Baddi (Himachal Pradesh) unit. The Revenue had alleged that the assessee continued to claim Section 80-IC deduction beyond the permissible period by...