{"id":39719,"date":"2024-03-01T16:52:12","date_gmt":"2024-03-01T11:22:12","guid":{"rendered":"https:\/\/itatonline.org\/digest\/cit-v-usha-infrasystems-2023456-itr-163-146-taxmann-com-473-hphc-2\/"},"modified":"2024-03-01T16:52:12","modified_gmt":"2024-03-01T11:22:12","slug":"cit-v-usha-infrasystems-2023456-itr-163-146-taxmann-com-473-hphc-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-usha-infrasystems-2023456-itr-163-146-taxmann-com-473-hphc-2\/","title":{"rendered":"CIT v. Usha Infrasystems (2023)456 ITR 163 \/146 taxmann.com 473 (HP)(HC)"},"content":{"rendered":"<p>Court held that most of\u00a0 manufacture carried out outside specified area hence not entitled to deduction.\u00a0 The Court also observed that \u00a0the purpose of incorporation of section\u00a080-IC\u00a0manifestly was to invite long-term investment and entrepreneurship in areas which were industrially backward. The incentive of the deduction of the income generated from such enterprise for the limited years cannot be used to negate the very purpose of the inclusion of section\u00a080-IC. This facility cannot be allowed to be used to camouflage the production by making only small investment in the areas specified in section\u00a080-IC. The term \u201cmanufacture\u201d or \u201cproduce\u201d used in section\u00a080-IC\u00a0has to be construed in the true context of the object and purpose of the said provision. Referred the notification of CBDT (2003) 264 ITR (St.) 145). (AY.2005-06, 2007-08)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 80IC : Special category  States-Manufacture-Production&#8211;Most of  manufacture carried out outside specified area-Not entitled to deduction.   <\/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-39719","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-akD","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39719","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=39719"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39719\/revisions"}],"predecessor-version":[{"id":39720,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/39719\/revisions\/39720"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=39719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=39719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=39719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}