"vegetable oils and vanaspati"

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....t any losses in the process of computing the total income, no tax concession will be available. Under the Finance Act, 1963 and subsequent Finance Acts upto 1967, a further concession of deduction of tax on 2 per cent of the sale proceeds from export of specified commodities was allowed from the total tax payable by assessees. During test-checks conducted by the Revenue Audit Parties of the C & AG....

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....those entitled to the concession for exports made out of India. An assessee engaged in the extraction of vegetable oils from oil cakes was granted rebate at the prescribed rate on the sale proceeds relating to export of de-oiled cake on the incorrect assumption that the said exclusion applied only to the articles "vegetable oils and vanaspati" and not to other articles manufactured in that industr....