S.C : An assessee who sets up a new industry of a kind mentioned in sub-section (2) of Section 80-IC of the Act and starts availing exemption of 100 per cent tax under subsection (3) of Section 80-IC (which is admissible for five years) can start claiming the exemption at the same rate of 100% beyond the period of five years on the ground that the assessee has now carried out substantial expansion in its manufacturing unit

Supreme Court Of India CIT vs. Classic Binding Industries A. K. Sikri & Ashok Bhushan, JJ. Section 80-IC CIVIL APPEAL NO(S). 7208 of 2018, 7223 of 2018, 7220 of 2018, 7215 of 2018, 7230 of 2018, 7216 of 2018, 7232 of 2018 20th August, 2018 A. K. SIKRI, J. 1. A neat question of law…

This content is for Annual members only.
Log In Register