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2014 (12) TMI 932 - HC - Income TaxDeduction u/s 80IA - Whether the Tribunal was right in holding that the deduction u/s 801A, if not claimed in the initial year, can be claimed in the subsequent years when the conditions therein are fulfilled – Held that:- In Commissioner Of Income-Tax Versus Seeyan Plywoods [1991 (2) TMI 89 - KERALA High Court] it has been held that if the assessee does not satisfy the conditions in the initial year and if he satisfies the conditions in subsequent years, then the benefit must be given from the year in which it satisfies the conditions and as per section 80I the assessee is entitled for deduction only for 10 years and not more than that - the Tribunal was rightly of the view that the assessee has satisfied all the conditions in order to avail benefit of Section 80IA – the order of the Tribunal is upheld – Decided against revenue.
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