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2018 (10) TMI 1128 - HC - Income TaxClaim of deduction @100% u/s 80IC - provision of refixing initial assessment year - Held that:- The issue has already been decided against the assessee in a judgment passed in M/s Admac Formulations Vs. Commissioner of Income Tax, Panchkula [2018 (10) TMI 1001 - PUNJAB AND HARYANA HIGH COURT] while dealing with the issue 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. The answer was given in the negative. - Decided against assessee.
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