From tax benefit to conversion of currency, here are the key court orders

A weekly selection of key court orders

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T ax benefit for expansion of unit   Manufacturers who have carried out “substantial expansion” of their units will get income tax deduction for an extended period, counted from the date of expansion, the Supreme Court has ruled while quashing the judgment of the Himachal Pradesh High Court in the case, Mahabir Industries vs Principal Commissioner. This benefit was introduced in the Income Tax Act in 2003. The company, in this case, manufactures polythene in its Shimla factory. It claimed tax benefit under Section 80-IC. This provision grants deduction at the ...