Export incentive shall not be included for computing eligible profits to compute deduction u/s. 80IC

DCIT  Vs. Century Textiles & Industries Ltd. (ITAT Mumbai)

We have observed that the AO never raised any query w.r.t. excise benefit forming part of the eligible profit derived from industrial undertaking for computing deduction u/s 80IC of the 1961 Act.

We have observed that the AO excluded other incomes such as rent, surplus on sale of assets, sale of scraps , Please become a Premium member. If you are already a Premium member, login here to access the full content.