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2017 (10) TMI 1386 - AT - Income TaxDeduction u/s 80IC - assessee exhausted claim to extent of 100% eligible profit for five years’ period - assessee again claimed for 9th year of production by claiming substantial expansion of the unit in assessment year - Held that:- The assessee is the proprietor of Windsor Industries which is engaged in the business manufacturing and trading in EPS Thermocole Moulded Packaging Disposal Glass and BOPP Tapes at Baddi since 29.6.2004 and the initial assessment year for claim of deduction u/s 80IC was assessment year 2005- 06. The assessee has already claimed deduction under section 80IC to the extent of 100% eligible profit for five years’ period from assessment year 2005-06 to 2009-10. The assessee had again claimed 100% deduction against eligible profit in the relevant assessment year 2013-14, which was 9th year of production by claiming substantial expansion of the unit in assessment year 2009-10. Relying upon the aforesaid decision of the ITAT in the case of Hycron Electronics (2015 (6) TMI 725 - ITAT CHANDIGARH), the claim was rejected by the lower authorities correctly - decided against assessee.
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