Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (11) TMI 633 - AT - Income TaxDeduction u/s 80IC - Proof of "substantial expansion" - Whether the assessee is entitled to claim 100% deduction u/s. 80IC on the profits from the eligible undertaking during the period relevant to the assessment year under appeal ? - HELD THAT:- Hon'ble Supreme Court of India in M/S. AARHAM SOFTRONICS [2019 (2) TMI 1285 - SUPREME COURT] an unambiguous manner has held that the substantial expansion has been made within the meaning of section 80IC (8)(ix) of the Act after initial assessment year, the assessee is further entitled to claim deduction @ 100% of profits from eligible undertaking under section 80IC of the Act. The aforesaid ratio squarely applies to the facts, of the instant case. Hence, we hold that the assessee is eligible to claim deduction under section 80IC @ 100% after 'substantial expansion' during the assessment year under appeal. Appeal of the assessee is allowed.
|