Insurance Payout for Destroyed Stocks Qualifies as Business Income for Tax Deduction u/s 80IB.

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....Deduction u/s. 80IB - compensation received by the assessee from the insurance company - some of the assessee’s stocks were destroyed and the assessee was compensated by Oriental Insurance Company - compensation for lost goods - both the above sums are profits derived from industrial undertaking business eligible for deduction. - AT....