SLP(C) No. 006730 - / 2021
THE COMMISSIONER OF INCOME TAX vs M/S SOCIEDADE DE FOMENTO INDUSTRIAL PVT. LTD.
Status
DISPOSED
Judges
HON'BLE MR. JUSTICE D.Y. CHANDRACHUD and HON'BLE MR. JUSTICE SANJIV KHANNA
Order Date
25-01-2022
Filed On
12-04-2021 11:43 AM
AI Summary
For an assessee to claim tax exemption under Section 10B of the Income Tax Act, 1961, the new industrial undertaking must be a physically separate, identifiable, and independently viable unit, not merely an expansion of an existing business, with new plant and machinery erected for production.