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2017 (12) TMI 1575 - HC - Income TaxEligibility to deduction u/s 10B - deduction only for period of 10 consecutive assessment years beginning with the Assessment year relevant to the previous in which the undertaking commences its manufacturing - Held that:- On plain reading of Section 10B(1), two things which emerge are that the benefit will start from the date of manufacturing and admittedly in this case, manufacturing activity started on 12.3.2001, in that view of the matter, the benefit will follow for the year 2001-02 and not for the year 2010-11. Admittedly, 10 years is taken to be consecutive and if the exemption or benefit of Sub-section (8) as claimed by the assessee, he has made declaration prior to filing of return letter in 2013 and mentioning in return will not help the assessee. In our considered opinion, declaration is not there and so called declaration in the return is not permissible because Section 8 envisaged that declaration is to be made prior to filing of the return which has not been done, therefore, in that view of the matter, the issue is answered in favour of the department and against the assessee.
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