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2010 (9) TMI 43 - HC - Income TaxIndustrial undertaking - The assessee is a manufacturer and exporter of hosiery goods. During the assessment, a claim for deduction under section 80-IB was made in respect of income derived from sale of export incentives. The said claim was rejected as not falling under section 80-IB not being income derived from industrial undertaking. Held that - in the light of the various decisions the income derived from export incentive is not eligible for deduction u/s 80IB of the Act, not being income declared from industrial undertaking.
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