Supreme Court  held that once initial assessment year commences and an assessee starts enjoying deduction, there cannot be another initial assessment year for purposes of section 80-IC within aforesaid period of 10 years, on basis that assessee had carried substantial expansion in its unit. Where an assessee who had set up a new industry of a kind mentioned in sub-section (2) of section 80-IC and had started availing exemption of 100 per cent tax under sub-section (3) of section 80-IC (which is admissible for five years), after availing deduction for a period of 5 years at rate of 100 per cent of such profits and gains from ‘units’, assessee on ground of having made substantial expansion would be entitled to deduction for remaining 5 assessment years at rate of 25 per cent (or 30 per cent where assessee is a company), as case may be, and not at rate of 100 per cent.  Assessee filed review petition for reconsideration of  order.Since there was an inordinate delay of 412 days in filing review petition which had not been satisfactorily explained, review petition was to be dismissed on ground of delay as well as on merits.  (AY. 2006-07)