Deduction u/s 10B available against interest on bank deposits, receipts of subsidy and insurance claim

Picric Limited Vs ITO (ITAT Delhi) ITAT Delhi held that interest on bank deposits, receipts of subsidy and insurance claim are eligible to be included in profits of 100% export oriented unit for purpose of claiming deduction under section 10B of the Income Tax Act. Facts- The case of the assessee was picked up for scrutiny and assessment was completed under section 143(3) of the Act on 27.12.2006 on total income of Rs. 1,11,57,590/- including therein, inter alia, disallowance of Rs. 19,24,528/- being interest income, disallowance of subsidy receipt of Rs. 8 1,000/- and disallowance of insuranc...