https://www.taxtmi.com/caselaws?id=202953 The Tribunal upheld the decision of the CIT (Appeals) regarding the disallowance of the deduction claimed under section 80-IC of the Income-tax Act. It was determined that the standing charges received by the assessee were considered ancillary profits and not directly derived from manufacturing activities, as required for eligibility under section 80-IC. Therefore, the appeal was dismissed, and the assessee was not entitled to the deduction for the amount of Rs. 1,05,09,877. en-us Fri, 14 Jan 2011 00:00:00 +0530 Wed, 27 Apr 2011 09:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202953 The Tribunal upheld the decision of the CIT (Appeals) regarding the disallowance of the deduction claimed under section 80-IC of the Income-tax Act. It was determined that the standing charges received by the assessee were considered ancillary profits and not directly derived from manufacturing activities, as required for eligibility under section 80-IC. Therefore, the appeal was dismissed, and the assessee was not entitled to the deduction for the amount of Rs. 1,05,09,877. Case-Laws Income Tax Fri, 14 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202953