100% Deduction u/s 80IC allowable when Industry undergone Substantial Expansion after expiry of 5 years of its Incorporation: ITAT [Read Order]

Deduction - Industry - Substantial Expansion - Incorporation - ITAT - Taxscan

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that 100% deduction under section 80IC is allowable when an industry underwent a substantial expansion after the expiry of 5 years of its incorporation. The appellant, Spinks Impex is a partnership firm carrying business of manufacturing printing machines, and their parts, printing plates, blades,…

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