S. 80IB deduction conditions to be fulfilled in all years of deduction claim

CIT Vs M/s Micro Instruments Company (Punjab & Haryana High Court) Brief of the case: The Hon’ble Punjab & Haryana HC in the above cited case held that deduction under section 80IB is allowable over a period of 6 years which follows that conditions for claiming deduction must remain fulfilled in all years for which deduction being claimed. Therefore, even when AO has allowed deduction in an Assessment year would not restrict him to retest the compliance to conditions stated in Sec 80IB who on finding non-compliance bound to disallow the deduction for the AY and all coming AYs. H...