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Income Tax - Highlights / Catch Notes

Home Highlights July 2022 Year 2022 This

Deduction u/s 80IB - undertaking not qualifying as an SSI (Small ...

Income Tax

July 16, 2022

Deduction u/s 80IB - undertaking not qualifying as an SSI (Small Scale Industry) unit - Considering our finding above of inclusion of computers cost, patterns, fixtures and factory equipment and product development and preoperative cost, this alone makes the assessee ineligible to SSI status as per IDRA Act and it can be safely held accordingly therefore that the assessee is not eligible to deduction u/s 80IB of the Act. - AT

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