CIT v. Nestor Pharmaceuticals Ltd. 2010
Sidwal Refrigerations Ind. Ltd v. DCIT 2010
(Imp CaseLaw of Sec80IB)
Fact:
*Trial Run production in March1998
*Commercial Production started in April1998
*Sale of 1unit water cooler & A.C. in March98 to get regn under Excise Act & Sales Tax Act
Case:
Period of exemption from & upto which AY?
Decision:
Since company had sold in March98,so it had crossed the stage of trial prodctn & final saleable had mfrd & sold. With this sale, marketable quality was established. Thus, the condition of 80IB were fulfilled in March98 & hence 5yrs will b from AY98-99
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