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2014 (3) TMI 328 - AT - Income TaxDeduction u/s 80IB of the Act – Limit of exemption for SSI unit – Held that:- The decision in ACIT, Mehsana Circle, Mehsana Versus M/s. Olympic Laminates Pvt. Ltd.[2014 (3) TMI 98 - ITAT AHMEDABAD] followed – The limit of investment in plant and machinery to SSI unit is of Rs. 5 crores and not Rs. 1 crore as per provisions of Industries (Development and Regulation) Act, 1951 applicable to the assessee-company as small scale industries as provided in Micro to the Small and Medium Enterprises Development Act, 2006 – the assessee's investment in plant and machinery is below the limit of Rs. 5 crores – thus, there is no need to interfere with the order in holding that assessee was entitled for deduction u/s 80IB of the Act – Decided against Revenue.
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