Forex gains are eligible for deduction u/s 10B

Brief Facts of the Case In the present case the Hon’ble Tribunal held that the Forex gains or losses after the sale receipts would be treated as an amount which will be eligible for deduction under section 10B. On the second issue, the Hon’ble Tribunal held that the amount received after sale of scrap will be eligible to be deducted u/s 80IC. Facts of the Case The assessee is carrying on the activity at three different units, in which two are registered 100% EOU for manufacturing plastic containers and the third unit is for manufacturing shampoo products. The income derived from the 100% E...