https://www.taxtmi.com/caselaws?id=412246 The Tribunal dismissed the Revenue's appeal regarding the allocation of sub-licensing fee and corporate income for Assessment Year 2013-14, as the basis for the amount was not provided and the estimated expenditure was considered excessive. Additionally, the Tribunal upheld the Commissioner's decision to allow deduction under section 80IC for scrap sales amounting to Rs. 5.98 crores, emphasizing that the scrap was generated from manufacturing activities and charged to the profit and loss account, making it eligible for the deduction. The appeal by the Revenue was thus dismissed, affirming the allowance of the deduction under section 80IC for the scrap sales. en-us Mon, 06 Sep 2021 00:00:00 +0530 Tue, 14 Sep 2021 08:48:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412246 The Tribunal dismissed the Revenue's appeal regarding the allocation of sub-licensing fee and corporate income for Assessment Year 2013-14, as the basis for the amount was not provided and the estimated expenditure was considered excessive. Additionally, the Tribunal upheld the Commissioner's decision to allow deduction under section 80IC for scrap sales amounting to Rs. 5.98 crores, emphasizing that the scrap was generated from manufacturing activities and charged to the profit and loss account, making it eligible for the deduction. The appeal by the Revenue was thus dismissed, affirming the allowance of the deduction under section 80IC for the scrap sales. Case-Laws Income Tax Mon, 06 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412246