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2012 (6) TMI 660 - HC - Income TaxExtended benefit of exemption u/s 10A - Applicability of amendment - condition to be fulfilled is ten consecutive assessment years beginning with the assessment year relevant to the previous year in which the undertaking begins to manufacture – Held that:- assessee has commenced production in the year 1993-94 - He enjoyed the benefit of 5 years from 1993-94 to 1997-98 - amended provision came into force on 1-4-1999 - denial of the benefit runs canteen to the sprit of Section 10B and it would negate the object with which the amended provision was brought in. - The assessee is entitled to the benefit of extension from 5 years to 10 years tax holiday as provided under the amended provision for 10 consecutive years from the date of commencement of production – In favor of assessee
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