Shipping Business -Insurance claim will qualify for deduction U/s. 33AC only if it represents business profits of assessee

IN THE ITAT MUMBAI BENCH ‘B’

Deputy Commissioner of Income-tax

Versus

Mercator Lines Ltd.

IT Appeal No. 7379 (Mum.) of 2011

[Assessment year 2003-04]

OCTOBER 17, 2012

ORDER

B.R. Jain, Accountant Member

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