Reduced royalty rate of 0.75% on FOB value upheld. 19% growth rate for share valuation. Deductions allowed on scrap sale receipts.

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....Royalty payable at reduced rate of 0.75% on FOB value upheld. Valuation of shares: AO directed to adopt projected growth rate of 19% as per assessee's valuation instead of 25% adopted by CIT(A). Deduction u/ss 80-IB and 80-IC allowed on receipts from sale of scrap, being part of manufacturing process and proximate gains from industrial undertaking. No substantial question of law arises.....