Whether the profits earned by an assessee carrying on a priority industry which are assessable u/s.41(2) of the I.T.Act, 1961 can be treated as profits attributable to the priority industry and whether relief u/s.80-I (earlier section 80-E) of I.T.Act, 1961 can be allowed in respect of such profits.

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....August 24, 1973 Section(s) Referred: 41(2) ,80I Statute: Income - Tax Act, 1961 The Board had occasion to consider the question whether the profits earned by an assessee carrying on a priority industry which are assessable u/s.41(2) of the I.T.Act, 1961 can be treated as profits attributable to the priority industry and whether relief u/s.80-I (earlier section 80-E) of I.T.Act, 1961 can be all....