Income from sale of scrap eligible for deduction u/s. 80IC: ITAT Ahmedabad

Reckitt Benckiser Healthcare India Private Ltd. Vs CIT (ITAT Ahmedabad) ITAT Ahmedabad held that income from sale of scraps generated through production process reducing cost of product is eligible for deduction under section 80IC of the Income Tax Act. Accordingly, appeal of revenue dismissed. Facts- The assessee-company is engaged in the business of manufacturing and marketing of pharmaceuticals & Cosmetic. The case of assessee was selected for scrutiny assessment and the assessment was subsequently framed by the Assessing Officer u/s 143(3) of the Act on 30.03.2015 determining total bus...