revenue was dismissed holding
that the assessee was under bonafide belief and claimed deduction under
Section 80IC of the Act. Reliance was placed ... Further, it was recorded that the assessee under the
bonafide belief had claimed the deduction under Section 80IC of the Act.
Thus, no infirmity
action of the AO in
reducing the eligible profit under section under section 80IC of the Act of Baddi
Unit.
ITA.Nos.2365/Ahd/2018 ... activities carried out by the industrial undertaking eligible for deduction under
section 80IC of the Act. Therefore we are of the considered view
profit of the business of the industrial undertaking
while computing deduction under Section 80IC of the Act.
The Appellant prays that 25% of the income ... under the
directions issued by the DRP, has erred in consequently not revising the
profit from the Baddi unit eligible for deduction under Section 80IC
convinced with the reply submitted by
the assessee and denied deduction under Section 80IC of the Act. Relevant
observations of Assessing Officer are as follows ... your
honour. Your honour will appreciate the basis for denying
deduction under Section 80IC is that assessee has shifted its
old plant and machinery from
conditions laid down under section
80IC of the Act. It was further held " Section 80IC of the Act bestows
the deduction under ... deduction under section 80IB / 80IC of the Act on AMC charges. Under
the provisions of section 80IC of the Act deduction is allowable against
benefit under section 80IC(4)(ii) of the Act. The Hon'ble High Court held
that under the provisions of section 80IC ... conditions laid down under section
80IC of the Act. It was further held " Section 80IC of the Act bestows the
deduction under
PERIOD OF DEDUCTION UNDER THIS
SECTION of under the second proviso to sub-section (4) of
6
section 80-IB or under section ... rate of
deduction provided under sub section (3) of section 80IC ,
it would be noted that under sub section 3(ii) the rate has
been
ascertain the
correctness of assessee's claim of deduction under section 80IC
of the Act in respect of Baddi unit, the Assessing Officer called ... deduction under section 80IC of the Act in
Assessment Year 2008-09, the Assessing Officer had observed
that the conditions of section 80IC
lakh under section 80IC of the Act. Though, the Assessing
Officer called upon the assessee to justify its claim under section 80IC
raising various issues ... entitlement of deduction.
But, if the subsidy is operational, the assessee would be entitled to
claim deduction under section 80IC / 80IB
section (6) of section 80 /C a/so lays
down that the total period of deduction under section 80 /C and under
section ... substantial expansion
for the purpose of section 80IC is defined under sub-section (8) (ix ) to
section 80IC of the Act. The undertaking or enterprises
