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2016 (6) TMI 1023 - HC - Income TaxDeduction under Section 80 HHC on export profits arrived at on the basis of the export turnover and the total turnover exclusive of Excise duty and Sales-tax - Held that:- Issue is squarely covered by the decision of the Apex Court in the case of Commissioner of Income Tax v. Lakshmi Machine Works reported in [2007 (4) TMI 202 - SUPREME Court ] Sales-tax incentive - revenue or capital receipt - Held that:- he issues involved in these appeals are squarely covered by the decisions of this Court in Commissioner of Incometax v. Birla VXL Ltd. reported in (2013 (7) TMI 655 - GUJARAT HIGH COURT ) and in Deputy Commissioner of Income-tax v. Munjal Auto Industries Ltd. reported in (2013 (10) TMI 650 - GUJARAT HIGH COURT) wherein held it can thus be straightaway seen that the benefit, though computed in terms of the Sales Tax liability in the hands of the recipient, the same was not mean to give any benefit on day-to-day functioning of the business, or for making the industry more profitable. The principle aim of the scheme was to cover the capital outlay already made by the assessee in undertaking special modernization of its existing industry . Therefore, the questions of law posed for our consideration in these appeals are answered in favour of the assessee
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