Case Name : Cit v. Laxmi metal industries

Citation : [1998] 100 taxman 619 (all.)
Court : Allahabad high court

Section : 80j

Meaning :  The expression ‘and each of the four assessment years immediately succeeding the initial assessment year’ occurring in sub-section (2) of section 80j is to be construed in its plain and ordinary sense. When so construed, there is no room for ambiguity on a plain reading of those words.

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