{"id":4185,"date":"2019-03-05T06:54:33","date_gmt":"2019-03-05T06:54:33","guid":{"rendered":"http:\/\/itatonline.org\/digest\/pcit-v-aarham-softronics-2019-102-taxmann-com-343-sc-www-itatonline-org\/"},"modified":"2019-05-21T00:10:07","modified_gmt":"2019-05-21T00:10:07","slug":"pcit-v-aarham-softronics-2019-102-taxmann-com-343-sc-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-aarham-softronics-2019-102-taxmann-com-343-sc-www-itatonline-org\/","title":{"rendered":"PCIT v. Aarham Softronics  (2019)  419 ITR 623\/ 261 Taxman 529 \/ 175 DTR 105 \/ 307 CTR 233(SC), www.itatonline.org.Editorial : From the judgement in  Stoverkraft of India v CIT ( 2017) 160 DTR 378 \/ ( 2018) 300 CTR 5 ( HP) (HC )"},"content":{"rendered":"<p><strong>Dismissing the appeal of the revenue the Court held that; an assessee availing exemption of 100% tax on setting up of a new industry, which is admissible for 5 years, and either on the expiry of 5 years or thereafter (but within 10 years) from the date when these assessees started availing exemption, they carried out substantial expansion of its industry <\/strong>would become &#8216;initial assessment year&#8217;, and from that assessment year, assessee shall been entitled to 100 per cent deductions <strong>from that year. \u00a0Intention of the\u00a0legislature to be seen . (CIT v.Classic Binding Industries (2018) 407 ITR 429 (SC) is held not good law and reversed).<\/strong> (CA 1784 of 2019, dt. 20.02.2019)\u00a0<span lang=\"EN-GB\">( AY. 2009-10 to 2011-12)\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 80-IC : New Industrial  undertaking\u2013Special category States-  Initial assessment  year -An assessee availing exemption of 100% tax on setting up of a new industry, which is admissible for 5 years, and either on the expiry of 5 years or thereafter (but within 10 years) from the date when these assessees started availing exemption, they carried out substantial expansion of its industry would become &#8216;initial assessment year&#8217;, and from that assessment year, assessee shall been entitled to 100 per cent deductions from that year.<\/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":[1],"tags":[],"class_list":["post-4185","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-15v","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4185","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=4185"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4185\/revisions"}],"predecessor-version":[{"id":5491,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4185\/revisions\/5491"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=4185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=4185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=4185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}