Assessee company was engaged in business of manufacturing of plastic packaging products such as PET and HDPE bottles, jars, caps and closures. It claimed deduction under section 80-IC. Assessing Officer\u00a0 held that products manufactured by assessee were in nature of goods and articles specified in 13th schedule of Income-tax Act and, hence, assessee was not eligible to claim deduction under section 80-IC, in view of conditions imposed under section 80-IC(2)(a). Held that\u00a0 claim of deduction under section 80-IC was examined thoroughly in first year of claim, i.e., assessment year 2005-06 as well as in assessment year 2007-08, and after being satisfied that conditions prescribed for claiming such deduction were fulfilled, such claim of deduction was allowed. Denial of exemption is not valid. (AY. 2005-06)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 81C : Undertakings-Special category states-Manufacturing of plastic packaging products such as PET and HDPE bottles-Eligible for deduction. [S. 80-IC (2)(a)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-34306","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8Vk","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=34306"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34306\/revisions"}],"predecessor-version":[{"id":34307,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34306\/revisions\/34307"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=34306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=34306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=34306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}