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Royalty payable at reduced rate of 0.75% on FOB value upheld. Valuation of shares: AO directed to adopt projected growth rate of 19% as per assessee's valuation instead of 25% adopted by CIT(A). Deduction u/ss 80-IB and 80-IC allowed on receipts from sale of scrap, being part of manufacturing process and proximate gains from industrial undertaking. No substantial question of law arises.
Royalty payable at reduced rate of 0.75% on FOB value upheld. Valuation of shares: AO directed to adopt projected growth rate of 19% as per assessee's valuation instead of 25% adopted by CIT(A). Deduction u/ss 80-IB and 80-IC allowed on receipts from sale of scrap, being part of manufacturing process and proximate gains from industrial undertaking. No substantial question of law arises.
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