Supreme Court of India
Mahabir Industries v. Principal Commissioner of Income Tax
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
2 Supreme Court benches have cited this judgment.
What the Court ordered
We are of the opinion that it was wrong on the part of the AO not to allow deduction to the assessee under Section 80-IC for the Assessment Years 2008-09 and 2009-2010.
Judgment, page 12
From the headnote
Income Tax Act, 1961: s.80-IC – Deduction under – Entitlement for – To the industrial undertakings which completed substantial expansion – The ass essee- industrial undertaking in question started availing de duction u/s. 80-IA from the assessment year 1998-99 for two assessmen t years – From the assessment years 2000-01 to assessment yea r 2005-06, the assessee availed deduction u/s. 80-IB – After s. 80-IC cam e into effect, the assessee having carried out substantial expans ion in the assessment year 2006-07, claimed exemption u/s. 80- IC for assessment years 2006-07 onwards – Deductions
Authorities it was built on
Where later benches applied it
- 2019 Pr. Commissioner of Income Tax Shimla v. M/s Aarham Softronics
- 2018 Commissioner of Income Tax v. M/s. Classic Binding Industries
Of those, 2 mentioned
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