https://www.taxtmi.com/caselaws?id=180437 The appellant claimed a deduction under section 80IB for profit from its manufacturing unit, including income from scrap sales. The Assessing Officer initially disallowed the deduction on scrap sales income, but the Ld. Commissioner of Income Tax(Appeals) allowed the claim, emphasizing the nexus of scrap with manufacturing. The Tribunal affirmed that scrap sales income is attributable to the priority industry and eligible for deduction under section 80IB. Additionally, disallowed expenditure under section 40(a)(ia) was treated as business income for the purpose of deduction under section 80IB, with the Tribunal upholding the eligibility of the assessee for the deduction despite the disallowance. en-us Fri, 23 Oct 2009 00:00:00 +0530 Fri, 25 Mar 2016 10:24:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180437 The appellant claimed a deduction under section 80IB for profit from its manufacturing unit, including income from scrap sales. The Assessing Officer initially disallowed the deduction on scrap sales income, but the Ld. Commissioner of Income Tax(Appeals) allowed the claim, emphasizing the nexus of scrap with manufacturing. The Tribunal affirmed that scrap sales income is attributable to the priority industry and eligible for deduction under section 80IB. Additionally, disallowed expenditure under section 40(a)(ia) was treated as business income for the purpose of deduction under section 80IB, with the Tribunal upholding the eligibility of the assessee for the deduction despite the disallowance. Case-Laws Income Tax Fri, 23 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180437