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2016 (2) TMI 492 - AT - Income TaxEligibility for deduction u/s 80IB - income from scrap sales - assessee is mainly involved in manufacturing activities - Held that:- If the main manufacturing activity is eligible for deduction u/s 80IB of the Act then receipt from sale of scrap generated in the process of manufacturing as well as the scrap from other items available in the manufacturing unit, then such receipts from sale of scrap shall come within the ambit of gains eligible for deduction u/s 80 IB of the Act. In the case of assessee the issue is similar as the assessee’s business is eligible for deduction u/s 80IB and it has also received income from sale of scrap and, therefore, in view of our above discussion, we find that the issue of assessee is covered by the decision of Hon’ble Jurisdictional High Court in the case of CIT vs. Jikar A. Saiyed (2013 (12) TMI 1562 - GUJARAT HIGH COURT). The ground raised by the Revenue is dismissed. - Decided in favour of assessee
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