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2021 (6) TMI 882 - AT - Income TaxDeduction u/s 80IC - substantial expansion - Initial assessment year - whether assessee has already claimed deduction @ 100% for 5 Assessment Years - HELD THAT:- The issue now stands squarely covered by the judgment of case of Pr. Commissioner of Income Tax vs. Aarham Softronics [2019 (2) TMI 1285 - SUPREME COURT] and related cases wherein the Hon’ble Apex Court has laid down that in case substantial expansion is carried out as defined in clause (ix) of Sub-section-8 of Section 80IC by such an undertaking or enterprise, within the aforesaid period of 10 years, the said previous year in which the substantial expansion is undertaken would become ‘initial assessment year’ and from that assessment year, the assessee shall be entitled to 100% deduction of profits and gains. It was also laid down by the Hon’ble Apex Court that deduction would be for a total period of 10 years.
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