Substantial expansion would make an assessee claim 100% deduction afresh; SC upholds HC’s ruling

IT : Supreme Court affirms view of High Court that 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) can start claiming exemption at same rate of 100 per cent beyond period of five years on ground that assessee has now carried out substantial expansion in terms of clause (ix) of sub-section (8) of section 80-IC

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000186664/substantial-expansion-would-make-an-assessee-claim-100-deduction-afresh-sc-upholds-hc’s-ruling.aspx