Court Rules on Section 80IA: Power Unit is Separate Undertaking, Not Business Splitting u/s 263, Income Tax Act.

Deduction u/s 80IA - Revision u/s 263 - To constitute reconstruction, there must be transfer of assets of the existing business to the new industrial undertaking. In our opinion, generation of power unit is separate and distinct undertaking for which separate approval was obtained and it cannot be said that splitting of existing business structure - AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X