Export benefit of refund of excise duty eligible for deduction u/s 80IC

PCIT Vs Reckitt Benckiser Healthcare India Ltd (Gujrat High Court) Gujarat High Court held that deduction under section 80IC of the Income Tax Act available on export benefit on account of the refund of excise duty. Facts- The assessee received the export benefits, which were in the nature of excise duty refund, as its Baddi Unit was eligible for outright excise duty exemption and the same did constitute independent source of income. The assessee had claimed deduction u/s. 80IC of the export benefit of Rs.35.59 lakhs, representing refund of excise duties paid on material and other items purcha...