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Commissioner of Income Tax Versus M/s Shree Ram Print-N-Pack

2015 (11) TMI 1001 - HIMACHAL PRADESH HIGH COURT

Entitlement to claim deduction under Section 80IC(4) - non placing on record any documents in support of his claim by assessee that the imported machines had not been used in India, especially since the machines were purchased by the assessee 7 month .....

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nt year 2006-07 clearly show that documents were filed before the Assessing Officer also. - Decided in favour of assessee. - Income Tax Appeal No. 11 of 2014 - Dated:- 6-10-2015 - Sanjay Karol And P. S. Rana, JJ. For the Petitioner : Mr. Vinay Kuthia .....

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81IC(4) without placing on record any documents in support of his claim that the imported machines had not been used in India, especially since the machines were purchased by the assessee 7 months after their import? 2. Facts are not in dispute. Res .....

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atutory exemption, under the provisions of Section 80IC(4)(ii) and Explanation-1 of sub-section (3) of Section 80IA of the Income Tax Act, 1961 (hereinafter referred to as the Act), which the Assessing Officer disallowed. 3. In an appeal filed by the .....

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ross total income of an assessee includes any profits and gains derived by an undertaking or an enterprise from any business referred to in sub-section (2), there shall, in accordance with and subject to the provisions of this section, be allowed, in .....

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hellip;……….. (ii) it is not formed by the transfer to a new business of machinery or plant previously used for any purpose. Explanation :The provisions of Explanations 1 and 2 to sub-section (3) of section 80-IA shall apply for t .....

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i), any machinery or plant which was used outside India by any person other than the assessee shall not be regarded as machinery or plant previously used for any purpose, if the following conditions are fulfilled, namely:- (a) Such machinery or plant .....

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Park, Chennai was not put to use in India for any purpose. 7. With regard to the fact in issue, based on not only the affidavit of the vendor, but also the enquiries, which the appellate authority got conducted through the Assessing Officer, during .....

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