vinay jain (CA & CS Executive) (85 Points)
15 October 2011Dear All,
Here is a small query. request your kind attention!
''A "started its business in year 2009. it was engaged in processing of bio mediacal waste. it availed the benefit of section 80 JJA for the next 5 years.
however in 2011 it had licensed (transfererd ) all the business to another entity namely 'B'. question here is whetrher the B (licensee) can avail the benefit of 80 JJA for the remaining years.
Supporting case laws if any . thanking you in advance.
Palash Gupta
(Student...Hoping to pass Inter)
(892 Points)
Replied 15 October 2011
Nikhil Goel
(IPCC, Bcom(h))
(21 Points)
Replied 16 October 2011
vinay jain
(CA & CS Executive)
(85 Points)
Replied 16 October 2011
Thanks for the reply.
ok no case law but any basis whatsoever for the above reply.
Rahul Suneja
(CA-Final, CS-Exec)
(215 Points)
Replied 18 October 2011
Yes it will be allowed exemption u/s 80jja since it is also doing that business only but deduction is allowed for the remaining yrs i.e. 2011,2012,2013 only
CAclubindia
