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2017 (5) TMI 1577 - AT - Income TaxDeduction under section 80IC - 100% claimed by the appellant in the sixth year of operation of new industrial undertaking - Held that:- The issue addressed in the present appeal is identical to what has been decided in the case of Hycron Electronics Vs ITO. [2015 (6) TMI 725 - ITAT CHANDIGARH] The assessee is a firm engaged in manufacturing of Mono and Master Cartons. The assessee has already claimed deduction under section 80IC of the Act to the extent of 100% eligible profit for five years’ period from assessment year 2007-08 to 2011-12. The assessee had again claimed 100% deduction against eligible profits in the relevant assessment year 2012-13, which was 6th year of production by claiming substantial expansion of the unit in assessment year 2010-11. Relying upon the aforesaid decision of the ITAT in the case of Hycron Electronics (supra), the claim was rejected by the lower authorities - accordingly, respectfully following the precedent, the appeal of the assessee is rejected.
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