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2022 (6) TMI 645 - AT - Income TaxDeduction u/s 80IC - claim of deduction at 100% on account of substantial expansion undertaken by the assessee - HELD THAT:- We find the Ld. CIT(A) while deciding the issue in favour of the assessee had relied on the decision of his predecessor in assessee’s own case for the A.Y. 2011-12 [2021 (7) TMI 183 - ITAT DEHRADUN] and had followed the decision of Hon’ble Himachal Pradesh High Court in the case of Stovekraft India vs., CIT [2017 (12) TMI 69 - HIMACHAL PRADESH HIGH COURT]. As decided in M/S. AARHAM SOFTRONICS [2019 (2) TMI 1285 - SUPREME COURT] Assessee having set up a new industry of a kind mentioned in section 80-IC(2) and started availing exemption of 100 per cent tax under section 80-IC(3) (which is admissible for five years) could start claiming exemption at same rate of 100 per cent beyond period of five years if it carried out substantial expansion in its manufacturing unit in terms of section 80-IC(8)(ix) within period of ten years.- Decided against revenue.
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