2009 (11) TMI 969

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ee against the order of CIT(A) dated 7.7.2009 for the AY 2006-07. 2. The only grievance of the assessee relates to restricting deduction u/s 10B on account of income derived from scrap sale. 3. Rival contentions have been heard and record perused. Facts in brief are that the assessee is a company engaged in the business of manufacturing of gardening and fancy tools, welding accessories, mach .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... erived from sale of industrial undertaking. The scrap so generated was out of manufacturing process only, the income derived from sale of such scrap cannot be said to be income in the nature of incentives or any duty drawback etc. received from outside agency. The decision of Hon'ble Supreme Court in the case of Liberty India, which disentitles the assessee from claim of deduction u/s 10B w .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X