Case Law Details
Case Name : Sh. Sumit Kumar Vs ITO (ITAT Chandigarh)
Related Assessment Year : 2010-11
Courts :
All ITAT ITAT Chandigarh
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Section 80IC: Despite substantial expansion there cannot be two initial Assessment Year
Brief facts of the case are that the assessee is a proprietor of two concerns i.e. M/s Alpine Steels and M/s Virat Steels. Both the units were manufacturing interlinked chains and barbed wires and came into production with effect from 18-06-2004. The assessee had been claiming deduction u/s 801C of the Act since A.Y. 2005-06, and this was the sixth year of production of both the units.
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