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2016 (11) TMI 74 - AT - Income TaxClaim of deduction u/s 80IC on account of substantial expansion - Held that:- We following the decision of Hycrons Electronics V ITO (2015 (6) TMI 725 - ITAT CHANDIGARH) held that assessee is eligible for deduction @ 25 % only on the profit derived from the industrial undertaking under section 80IC of the act despite substantial expansion undertaken by it. We dismiss the appeal of the assessee for both the Assessment years confirming the finding of lower authorities.
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