SC on inclusion of years of deduction claimed earlier U/s. 80-IA & 80-IB for calculation of 10 Year period for deduction U/s. 80-IC

Mahabir Industries Vs. PCIT (Supreme High Court) The assessee in the instant case has not got deduction under Section 80-IC for a period of ten years as he started claiming deduction under this provision w.e.f. Assessment Year 2006-07. Situation Nos. (b) and (c) mentioned above would not apply to the assessee as it’s undertaking/enterprise is not established in North-Eastern Region. It is, thus, clear that the High Court has failed to appreciate that the provisions of Section 80-IC(6) of the Act state that the total period of deduction under Section 80-IC and Section 80-IB cannot exceed ten ...