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1995 (11) TMI 3 - SUPREME COURTWhile interpreting a provision similar to section 84(5) of the Act, this court has held that the profits and gains from an industrial undertaking to which the section applies, have to be computed in accordance with the provisions contained in Chapter IV-D of the Act and the development rebate has first to be deducted from the total income and it is only thereafter, if any profits and gains remain from this business, that the benefit under section 84(1) of the Act would be applicable
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