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2015 (6) TMI 610 - HC - Income TaxEligibility for deduction u/s 80IB - license to run the factory was not obtained on or before 31/03/2004 i. e. the cut off of starting the industrial undertaking as per provisions of Section 80IB(4) - Held that:- Assessing Officer did not doubt about raw material consumption, power consumption, sales and employment of workers for the purposes of denying the benefit of Section 80IB of the said Act. It was further held that for the purpose of Section 80IB of the said Act, what is essential is that the assesee should manufacture or produce an article or thing and if there is any violation of any provisions of any other statutes then the assessee has to explain the same to the authorities implementing those Acts/Statutes and the same cannot be the basis of denial of benefit under Section 80IB of the said Act. - Decided in favour of assessee.
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