In the result appeal of the assessee ground no 4 to 4
Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee
80 IB of the I. T. Act, 1961as it is not derived from Industrial undertaking. Therefore, the assessee is not eligible for deduction u/s 80IB(4) of the Income Tax Act, 1961 on profit attributable to Central Excise Duty Refund. Accordingly, deduction is to be recomputed by excluding the above amounts accrued to the assessee on account of excise duty