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2019 (1) TMI 290 - AT - Income TaxDeduction u/s.80IC - assessee company has not fulfilled the condition laid down in section 80IC(4)- Held that:- We find that the decision of Ld. CIT(Appeals) is based on the interpretation and nexus u/s.80IC of the Act, wherein, he has correctly applied the test of new machinery vis-à-vis old machinery in the year of the formation of the new undertaking i.e. the year one and not in the subsequent years and therefore, claim of deduction u/s.80IC during the year under consideration held to be justified. - decided against revenue
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