Sec. 80-IC relief to be restricted even if substantial expansion was done after 5 year: SC

IT : Where an assessee who sets up a new industry of a kind mentioned in sub-section (2) of section 80-IC and starts availing exemption of 100 per cent tax under sub-section (3) of section 80-IC (which is admissible for five years), after availing deduction for a period of 5 years at rate of 100 per cent of such profits and gains from 'units', assessee would be entitled to deduction for remaining 5 assessment years at rate of 25 per cent (or 30 per cent where assessee is a company), as case may

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