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2016 (4) TMI 475 - AT - Income TaxDeduction u.s 80IC - Held that:- Merely because the industrial undertaking earned higher profits does not call for an inference that claim of deduction is to be wily nily reduced on presumption. The Tribunal also held that the provisions of section 80IC of the Income-tax Act, 1961 have been introduced by Legislature to promote the industrial activity and their profitability.Therefore, it is vividly clear from the above that the issue stands covered in favour of the assessee
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