20 July 2009
My cleints is a partnership firms who have established their business in the state of Himachal Pradesh after a certain date and full fill all the condition as mentioned in Scetion 80 IC of Income Tax Act and eligible for a deduction of 100% up to first 5 year and after that 25% for next 5 year.
Now our question is that if an existing unit which has already taken a benefit of 100% deduction in first five years, make substantial expansion in its sixth year of operation then will it be eligible for deduction of 100% for next five year?.
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