Supreme Court of India
Pr. Commissioner of Income Tax Shimla v. M/s Aarham Softronics
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.
What the Court ordered
In view of the aforesaid, we affirm the judgment of the High Court on this issue and dismiss all these appeals of the Revenue.
Judgment, page 24
From the headnote
Income Tax Act, 1961 – ss.80-IA, 80-IB, 80-IC – ‘In itial Assessment Year’ u/s.80-IC – U/s.80-IC an undertaking or enterprise, in certain special category states, which has inter alia, begun or begins to manufacture or produce any article or thing by s etting up a new factory in the area specified therein, is allow ed, deduction from profits and gains u/sub-s.(3) of s.80-IC– Sub-s.(3 ) of s.80-IC inter alia states that a category of undertakings or enterpri ses (present cases belong to this category) are allowed exemption @ 100% of profits and gains for five assessment years commencing with
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