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The Tax Publishers2020 TaxPub(DT) 4490 (Bom-HC) : (2020) 429 ITR 0207 : (2021) 276 TAXMAN 0090 INCOME TAX ACT, 1961
Section 10B
It is not a statutory requirement that there has to be separate permission for each unit so as to claim deduction under section 10B. Just because government granted permission by amending the original permission letter, it did not affect eligibility for deduction under section 10B as regards new unit established by assessee.
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Deduction under section 10B - Allowability - Establishment of new unit - Whether separate permission necessary for each unit
Question arose for consideration was as to whether there had to be separate permission for new unit established by assessee in case government granted permission by amending original permission letter under section 10B. Held: It is not a statutory requirement that there has to be separate permission for each unit. Just because government granted permission by amending the original permission letter, it did not affect eligibility for deduction under section 10B in any manner. As the unit was new the permission had been duly granted, and the period of exemption had still been subsisting, no deduction could be disallowed.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2006-07
INCOME TAX ACT, 1961
Section 14A Rule 8D
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