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2017 (5) TMI 1215 - ITAT KOLKATADeduction u/s. 10B computation - sale of DEPB licence - Held that:- Special Bench in the case of M/s. Maral Overseas Ltd. [2012 (4) TMI 345 - ITAT INDORE] held Once an income forms part of the business of the income of the eligible undertaking of the assessee, the same cannot be excluded from the eligible profits for the purpose of computing deduction u/s 10B of the Act. As per the computation made by the Assessing Officer himself, there is no dispute that export incentive incomes have been treated by the Assessing Officer as business income. - the undertaking is eligible for deduction on export incentive received by it in terms of provisions of Section 10B(1) read with Section 10B(4) of the Act Sub-section (4) of section 10A/10B of the Act is a complete code providing mechanism for computing the “profit of the business” eligible for deduction u/s. 10B - Decided in favour of assessee.
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