Deduction U/s. 80-IC on substantial expansion and initial assessment year

DCIT Vs M/S Shyam Sunder Khemka (ITAT Delhi)

Assessee being a manufacturer substantial expansion was carried out in asst. yr. 2008-09 hence, initial assessment year would be refixed 2008-09 and assessee would be eligible to claim 100% deduction for next five assessment years and thereafter 25% for next 5 assessment years subject to restriction imposed under sub-section (6) of section 80-ICPlease become a Premium member. If you are already a Premium member, login here to access the full content.