https://www.taxtmi.com/caselaws?id=179006 Scrap sale income generated in the manufacturing process of lubricants and greases is treated as having a direct nexus with the industrial undertaking, so it qualifies as income derived from manufacturing for section 80IB deduction. Exchange rate difference linked to the sale and export proceeds of the undertaking's goods is also regarded as derived from the industrial undertaking, and therefore similarly eligible for deduction under section 80IB. The analysis follows binding jurisdictional precedent on both points and rejects the contrary view previously taken in an earlier year, confirming that both receipts fall within the deduction framework. en-us Fri, 04 Sep 2015 00:00:00 +0530 Thu, 18 Feb 2016 07:08:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179006 Scrap sale income generated in the manufacturing process of lubricants and greases is treated as having a direct nexus with the industrial undertaking, so it qualifies as income derived from manufacturing for section 80IB deduction. Exchange rate difference linked to the sale and export proceeds of the undertaking's goods is also regarded as derived from the industrial undertaking, and therefore similarly eligible for deduction under section 80IB. The analysis follows binding jurisdictional precedent on both points and rejects the contrary view previously taken in an earlier year, confirming that both receipts fall within the deduction framework. Case-Laws Income Tax Fri, 04 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179006