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2014 (9) TMI 923 - ITAT CHENNAIExemption under section 10B - Addition u/s 68 - held that:- A reading of the provisions of section 10B makes unambiguously clear that the profits and gains derived by 100 per cent export-oriented undertaking from the export of articles or things or computer software is eligible to claim deduction under section 10B. Thus, it is the profits and gains from the export business of the specified items that the assessee is eligible for claiming deduction under the provisions of section 10B. Additions made under section 68 falls under the head "Income from other sources" and is thus, not part of profits and gains of business or profession. We do not agree with the contentions of learned counsel for the assessee that the assessee is eligible for exemption under section 10B on the additions made under section 68. Accordingly, this contention of the assessee is rejected. - No infirmity in the order of the Commissioner of Income-tax (Appeals). - Decided against assessee.
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