06 March 2012
My Company is located in SEZ area availing excise exemption(Circullar-50/2003,49/2003) & income tax exemption u/s 80ic(3); it has acquired adjacent land for expansion purpose & seeks to start production before 31 march 2012; whether the company requries to fullfill any clause regarding minimum additional investment so as to be eligible to claim excise & income tax benefit on adjacent land. & whether this acquisition of adjacent land shall be treated as expansion for both income tax & excise purpose.
CAclubindia
