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2014 (3) TMI 68 - AT - Income TaxDisallowance of exemption u/s 10B of the Act Scrap sales Incremental turnover & connectivity incentive Subsidy from government - Interest income - - Other income - Exchange rate of fluctuation - Held that:- The decision in Maral Overseas Ltd. Versus Additional Commissioner of Income-tax, Range 5, Indore [2012 (4) TMI 345 - ITAT INDORE] followed - 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 both these incomes have been treated by the Assessing Officer as business income thus, the matter remitted back to the AO for fresh adjudication Decided in favour of Revenue.
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