Bombay High Court Allows Revenue's Appeal in Section 10B Exemption Case - Expansion of Existing Unit Not Eligible for Deduction. The court held that the Assessee's expansion of its existing processing capacity with new plant and machinery does not qualify for exemption under Section 10B of the Income Tax Act, 1961, as per the Explanation to Section 10B(7).
22 Oct 2020The case involves appeals by the Revenue against the Income Tax Appellate Tribunal's order allowing deduction under Section 10B of the Income Tax Act,...
