Deduction U/s 10B
This query is : Open
26 October 2010
Query: As per Section 10B of Income Tax Act, - apart from other conditions mentioned in section 10B one of the condition is deduction is available only to those business which is not formed by splitting up or reconstruction. So my query is what does the word RECONSTRUCTION means? If a propritorship firm is converted into Partnership firm does this tantamount to Reconstruction? Propritorship firm created in 2003-04 and converted into partnership firm in 2004-05. Are there any case laws available on this issue?
26 October 2010
If the proprietry firm was doing the same busniss , and if it is converted in partnership firm - 10B will not be available.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Price inclusive or exclusive of GST while made entry in P& L Account
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Dep. as per companies act
- Minimum tax payable to file Updated return
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Applicability of GST on Salary Reimbursement Component
- SALARY CAN BE CAPITALIZE
- TDS on purchase of under construction property from a reseller
- UDIN ISSUE
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
ARTICLESHIP
07 September 2026
CA Articles
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
View Details
ARTICLESHIP
07 September 2026
Article/ Paid Assistant
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
08 September 2026
Semi-Qualified Assitant
Subrahmanyam & Sivudu CA Firm
Hyderabad
CA Inter
View Details
CCI
Pro
CAclubindia
