Taxpayer's Deduction u/s 80IB Supported: Eligible Business Profits Qualify for Exemption, Even with Disallowed Expenses.

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....Deduction u/s 80IB - there is substantial force in the claim of the assessee that deduction u/s 80IB has to be allowed on the amount of profits and gains derived by him the eligible business within the meaning of the said statutory provision, as finally determined. - Disallowance of expenses claimed by the assessee as regards his eligible business would increase its income which again will be exempt u/s 80IB. - AT....