https://www.taxtmi.com/caselaws?id=25380 The High Court of Bombay ruled that all profits and gains from the priority industry of cotton seed oil production, including related by-products like cotton seed oil-cake, lint, and husk, are eligible for deduction under section 80-I of the Income-tax Act, 1961. The relief should be based on composite profits, contrary to the Income-tax Officer's calculation of proportionate profits solely from cotton seed oil. The Court referenced precedents to support its decision and concluded in favor of the assessee, allowing deduction for the entire profits attributable to the activity of cotton seed oil production. en-us Thu, 26 Mar 1987 00:00:00 +0530 Thu, 28 Jan 2010 12:24:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25380 The High Court of Bombay ruled that all profits and gains from the priority industry of cotton seed oil production, including related by-products like cotton seed oil-cake, lint, and husk, are eligible for deduction under section 80-I of the Income-tax Act, 1961. The relief should be based on composite profits, contrary to the Income-tax Officer's calculation of proportionate profits solely from cotton seed oil. The Court referenced precedents to support its decision and concluded in favor of the assessee, allowing deduction for the entire profits attributable to the activity of cotton seed oil production. Case-Laws Income Tax Thu, 26 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25380