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2016 (2) TMI 225 - AT - Income TaxComputing deduction u/s. 10B - eligibilty for deduction on the profits from subsidy, interest income, sale of scrap, sales tax refund and sundry balances written off - Held that:- he decision of Special Bench of Tribunal in the case of Maral Overseas (2012 (4) TMI 345 - ITAT INDORE ) wherein the ratio that once on 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, has been upheld in the case of Hritnik Exports Pvt. Ltd. & Motorola India Electronics Pvt. Ltd.[2015 (10) TMI 1009 - DELHI HIGH COURT ] Before us, Revenue has not pointed out any contrary binding decision in its support nor has placed any material on record to demonstrate that Assessee was having any other business other than exports and the aforesaid income were derived out of that other business. In view of the aforesaid facts, we are of the view that Assessee is eligible for deduction on the profits from subsidy, interest income, sale of scrap, sales tax refund and sundry balances written off. We thus set aside the order of ld. CIT(A). - Decided in favour of assessee
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