https://www.taxtmi.com/caselaws?id=220295 The Tribunal partially allowed the Assessee's appeal, directing the AO to verify specific claims for deduction under section 10B of the Income Tax Act, 1961. It emphasized that profits intimately connected with the business of the eligible undertaking qualify for deduction, requiring suitable apportionment. Incomes such as scrap sales were allowed for inclusion, while interest on surplus funds and certain other receipts were excluded. The decision highlighted the importance of interpreting section 10B in line with its post-amendment context to determine eligible profits for deduction. en-us Fri, 11 Jan 2013 00:00:00 +0530 Wed, 30 Oct 2013 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220295 The Tribunal partially allowed the Assessee's appeal, directing the AO to verify specific claims for deduction under section 10B of the Income Tax Act, 1961. It emphasized that profits intimately connected with the business of the eligible undertaking qualify for deduction, requiring suitable apportionment. Incomes such as scrap sales were allowed for inclusion, while interest on surplus funds and certain other receipts were excluded. The decision highlighted the importance of interpreting section 10B in line with its post-amendment context to determine eligible profits for deduction. Case-Laws Income Tax Fri, 11 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220295