Year of substantial expansion is initial Assessment Year within 10 years for claiming Deduction u/s 80-IC: ITAT [Read Order]

Assessment Year - Deduction - ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that there can be two initial assessment years and the year in which there was substantial expansion that year is the initial assessment year within the period of 10 years for the purpose of claiming deduction under section 80-IC of the Income Tax Act, 1961. The…

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