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2014 (3) TMI 98 - AT - Income TaxDeletion of deduction u/s 80IB of the Act – SSI Exemption – Limit of investment - Held that:- The appellant company provisionally registered as SSI on 23/07/1999, as per press note/circular of Commerce and Industries the limit of Investment in plant & applicable to the unit is Rs. 300 lacs and not Rs, 100 lacs - the computation of eligible plant and machinery is of Rs, 1,28,49,101/-, which is below the limit of Rs, 3 crores – the decision in ACIT v/s Shiv Agrevo Ltd. [2009 (2) TMI 252 - ITAT JAIPUR-B] followed - the appellant company fulfills the conditions of SSI during the asst. year 2006-07 – thus, there is no need to interfere with the order passed by the CIT(A) in holding that assessee-company fulfils the condition of SSI during the assessment year and are entitled to deduction u/s 80IB of the Act - Decided against Revenue.
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