https://www.taxtmi.com/caselaws?id=259436 The court upheld the exclusion of spare parts profit from the deduction under section 10B of the Income-tax Act, emphasizing the requirement that exported articles must be manufactured by the assessee to qualify for benefits. However, the court allowed the inclusion of scrap profit for the deduction, stating that there must be a direct nexus between the profits and the industrial undertaking for eligibility. This judgment clarified the eligibility criteria under section 10B, highlighting the importance of the relationship between profits and the manufacturing process for determining deduction eligibility. en-us Mon, 30 Jun 2014 00:00:00 +0530 Mon, 11 May 2015 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259436 The court upheld the exclusion of spare parts profit from the deduction under section 10B of the Income-tax Act, emphasizing the requirement that exported articles must be manufactured by the assessee to qualify for benefits. However, the court allowed the inclusion of scrap profit for the deduction, stating that there must be a direct nexus between the profits and the industrial undertaking for eligibility. This judgment clarified the eligibility criteria under section 10B, highlighting the importance of the relationship between profits and the manufacturing process for determining deduction eligibility. Case-Laws Income Tax Mon, 30 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259436