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2016 (11) TMI 1645 - AT - Income TaxDisallowance u/s 80IA(iv) - selection of initial year out of the block of 15 years - HELD THAT:- As far as selection of initial year is concerned, the Board has already clarified this issue in Circular no.1/2016. This discretion is with the assessee to select any initial year. It is the discretion of the assessee to opt any 10 years. Once the assessee has opted initial year, then it has to claim deduction under section 80IA consecutively for 10 years. The approach of the AO to construe that initial year ought to be selected from the year of manufacturing, was not approved by the Board. Considering all these aspects, we do not see any reason to interfere in the order of the ld.CIT(A). Accordingly, the appeal of the Revenue is dismissed.
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