Substantial expansion possible only on existing units-Assessee eligible for 25% Deduction U/s. 80IC not 100%

Brief of the Case ITAT Chandigarh held In the case of M/s Shree Dhanwantri Herbals vs. The ITO that the careful reading of the form 10CCB, in a serial order would clearly show that the assessee is required to inform the location of the Industry and column (c) specifically ask the assessee to state whether business is a new business and Column (d) clearly ask the assessee whether existing business has under taken substantial expansion, therefore, there are two categories of business and substantial expansion is possible only in case of existing business. In our opinion, the CIT (A) has correctl...