2018 (9) TMI 2123 - HC - Income Tax

Deduction @100% u/s 80IC - initial assessment year - fresh claim on undertaking substantial expansion from the year of completion of substantial expansion - HELD THAT - For orders see M/s Admac Formulations 2018 (10) TMI 1001 - PUNJAB AND HARYANA HIGH COURT decided negative whether the assessee who had availed deductions at the rate of 100% for first five years on the ground that they had set up a manufacturing unit as prescribed under sub section (2) of Section 80IC of the Act can start claiming deduction at the rate of 100% again for the next five years as they had undertaken substantial expansion during the period mentioned in sub section (2) thereof. Issue decided against the assessee.

Summary

The Punjab & Haryana High Court judgment in 2018 (9) TMI 2123 involved a case between M/s Admac Formulations and the Commissioner of Income Tax, Panchkula. The appellant did not have representation, while Mr. Yogesh Putney was the Senior Standing Counsel for the respondents. The case details can be found in ITA No. 332 of 2015.