Availibility of deduction u/s. 80ia
This query is : Open
CA SANJAY BORAD
(Querist)
25 December 2012
Sir,
If XYZ Co. manufacturing co. and it has its own two windmill. The co. is taking benefit of deduction u/s. 80IA from A.Y. 2009-10. Now co. wants to install a third windmill project, then tell me whether co. is eligible for deduction u/s. 80 IA for next 10 years from A.Y. 2013-14 if co. installed this project in F.Y. 2012-13 ?
If XYZ Co. manufacturing co. and it has its own two windmill. The co. is taking benefit of deduction u/s. 80IA from A.Y. 2009-10. Now co. wants to install a third windmill project, then tell me whether co. is eligible for deduction u/s. 80 IA for next 10 years from A.Y. 2013-14 if co. installed this project in F.Y. 2012-13 ?
Pankaj Gupta
(Expert)
25 December 2012
Yes you are eligible to claim deduction under the section for consecutive 10 years out of a block of 15 years. Count the years from the date of operation of new project.
CA SANJAY BORAD
(Querist)
15 May 2013
@pankaj Gupta any case law regarding this deduction ?
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