In the result, ITA No. 374/LKW/2017 is partly allowed while ITA No
801B) which disallowance is arbitrary and be deleted. 06. Because the CIT(A) has failed to appreciate that sale proceeds of licence of Rs.2,31,21,485 and duty draw back Rs.95,10,794/- are all part of the revenue account relating to and belonging to the industrial undertaking and its activity the same is eligible for deduction u/s.80IB