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of <h1>Court Ruling: Income Eligibility for Deduction under Sections 80HHC/80IB</h1> <h3>Commissioner of Income Tax Versus Bilag Industries Pvt Ltd.</h3> Commissioner of Income Tax Versus Bilag Industries Pvt Ltd. - TMI Issues:1. Eligibility of income from exchange gain for deduction u/s.80HHC of the Act.2. Eligibility of duty draw back/export incentives for deduction u/s.80IB/80HHC.3. Exclusion of income earned from sale of scrap for deduction u/s.80HHC.4. Eligibility of scrap income for deduction u/s.80IB/80HHC.5. Treatment of excise duty and sales tax in total turnover calculation for deduction u/s.80HHC.6. Disallowance of belated payments of PF & ESIC for deduction.Analysis:1. The judgment addressed the eligibility of income from exchange gain for deduction u/s.80HHC. The Court referred to a previous judgment and ruled in favor of the assessee based on the precedent.2. The issue of duty draw back/export incentives for deduction u/s.80IB/80HHC was found to not arise from the Tribunal's judgment, hence not addressed in the current judgment.3. The Court considered the exclusion of income from the sale of scrap for deduction u/s.80HHC. Citing a previous decision, the Court answered the question in accordance with the precedent.4. The eligibility of scrap income for deduction u/s.80IB/80HHC was analyzed based on a previous decision, and the Court answered the question accordingly.5. Regarding the treatment of excise duty and sales tax in total turnover calculation for deduction u/s.80HHC, the Court referred to a specific case and ruled in favor of the assessee.6. The judgment discussed the disallowance of belated payments of PF & ESIC for deduction. It was divided into two parts: employer's contribution and employee's contribution. The Court referred to relevant judgments and ruled that deduction would be available for the employer's contribution but not for the employee's contribution, based on the specific circumstances and legal provisions.
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