profession Rs. 4,04,62,078
Deduction under Section 80-IB
Computation of profit derived from industrial undertaking
Income from business and profession ... Sterling Foods (supra), the facts were different and there was a sale of import entitlement which was not includible in the income for computing
Assistant Commissioner Of Income Tax, ... vs M/S. Hindustan Zinc Limited, Udaipur on 30 June
provisions. Therefore, we need to examine what these
provisions prescribe for "computation of profits of the eligible
business". It is evident that section ... connection,
Department places heavy reliance on the judgment of this Court in
Sterling Food's case (supra). Therefore, in the present cases, in which
Rajasthan State Industrial ... vs Acit, Jaipur on 23 February, 2018
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Renu Agarwal, Jaipur vs Acit, Jaipur on 14 February, 2017
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Corp. Ltd.
The Tribunal was therefore not justified in holding that while computing
deduction under section 80-I of the Act interest received from trade ... include something which is indirect as well.
18. The judgment in Sterling Foods case (supra) lays down a very
important test in order to determine
provisions. Therefore, we need to examine what
these provisions prescribe for "computation of profits of the eligible business". It is
evident that section ... Department places heavy reliance on the judgment of this court in Sterling Foods
[1999] 237 ITR 579. Therefore, in the present cases, in which
Mahesh Kumar Gupta, Jaipur vs Ito, Jaipur on 11 July, 2017
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Suresh Kumar Bajoria vs Income Tax Officer on 28 September, 2007
Equivalent citations: (2008)113TTJ
Arvind Gupta vs Income Tax Officer on 31 March, 2008
Equivalent citations: (2008)116TTJ(JP
