Deduction u/s 80IC of IT Act shall not be denied if Assessee forms New Firm in same Name at same Premises: ITAT [Read Order]

Income Tax Act - Deduction - Assessee - New Firm - Premises - ITAT - Assessee forms New Firm - same Name at same Premises - taxscan

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that deduction under Section 80IC of Income Tax Act 1961 should not be denied  if assessee form a new firm in the same name at same premises. Assesee Sharda Exports started business in 1983 from Meerut. This firm was dissolved in the financial…

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