Captive undertaking eligible for Section 80IC deduction

CIT Vs ITC Limited (Calcutta High Court)

Whether on the facts and in the circumstances of the case the Ld. Tribunal has erred in law in allowing the claim of the assessee for deduction under Section 80IC of the I.T. Act, 1961, amounting to Rs.72,21,948/- by disregarding that the captive undertaking is not entitled to deduction under the said provision for the notional profit since the products have only been supplied to the Food Business Division (FBD) of the assessee and not to outsider ?

CITA reversed the ord

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