https://www.taxtmi.com/caselaws?id=770811 ITAT Kolkata remanded the matter regarding expense allocation between eligible and non-eligible units back to AO, directing proper bifurcation with assessee's assistance. Common expenses to be allocated pro-rata based on turnover. Regarding section 80IC deduction, the tribunal upheld AO/CIT(A)'s disallowance of 30% receipts from export incentives and other income, ruling these were not "derived" from industrial undertaking. Following precedents including Cambay Electric Supply, only income with direct proximate source qualifies. However, directed that only net interest should be considered for section 80IC computation purposes. en-us Tue, 06 May 2025 00:00:00 +0530 Fri, 16 May 2025 08:40:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770811 ITAT Kolkata remanded the matter regarding expense allocation between eligible and non-eligible units back to AO, directing proper bifurcation with assessee's assistance. Common expenses to be allocated pro-rata based on turnover. Regarding section 80IC deduction, the tribunal upheld AO/CIT(A)'s disallowance of 30% receipts from export incentives and other income, ruling these were not "derived" from industrial undertaking. Following precedents including Cambay Electric Supply, only income with direct proximate source qualifies. However, directed that only net interest should be considered for section 80IC computation purposes. Case-Laws Income Tax Tue, 06 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770811