Does ICDS apply for the purposes of computing exemption u/s 11 to 13.

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..... ICDS would not apply for the purposes of computing exemption u/s 11 to 13 since the computation of exemption is based on the commercial concept of income. However, where such income loses exemption, .....

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..... ion and separate books are maintained in respect of such business, the exemption provisions u/s 11 to 13 would apply. In such a case, the income from business has to be computed on commercial basis an .....

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