Supreme Court Reverses High Court in Section 80-IC Tax Exemption Case — Substantial Expansion Does Not Entitle Assessee to Reset 100% Deduction Period. The court held that the fixed exemption structure under Section 80-IC(3) cannot be altered by substantial expansion, and the total deduction period remains capped at ten years....
The Supreme Court considered a batch of appeals arising from a common judgment of the Himachal Pradesh High Court concerning the interpretation of Section 80-IC of the Income Tax Act, 1961. The core d...
