Bar provided in section 80-IA(3) is to be considered only for first year of claim of deduction u/s 80-IA

CASE LAWS DETAILS DECIDED BY: ITAT, NEW DELHI, BENCH `H’0 IN THE CASE OF: Tata Communication Internet Services Ltd. Vs. ITO, APPEAL NO: ITA No. 4214/Del/2010, DECIDED ON February 26, 2010 RELEVANT PARAGRAPH 5.1 A perusal of the provisions of Section 80IA(3) clearly shows that the term “clause (ii)” was inserted by the Finance No.2 Act of 2004 w.e.f. 01.04.2005, this insertion is not with retrospective effect, as it is not so specified in the Act. The circular issued by the CBDT explaining the provisions relating to Direct Taxes Finance No.2 Act of 2004 also shows that the in...