The High Court addressed the issue of deduction u/s 80-IC (2) (a) for a company manufacturing Pan...

The High Court addressed the issue of deduction u/s 80-IC (2) (a) for a company manufacturing Pan Masala. The company's product was considered excluded for deduction due to the Thirteenth Schedule provisions. The Court noted the specific exclusion of tobacco and related products in Part B of the Schedule for certain states. As the company was located in an area specified by the Central Board of Direct Taxes, the Court found that the product, which did not contain tobacco, was eligible for the deduction. It emphasized that the legislature's omission of Pan Masala in the relevant part of the Schedule precluded its inclusion under the deduction disqualifications. Ultimately, the Court ruled in favor of the company, allowing the deduction u/s 80-IC (2) (a) (i) and Section 80-IC (3) of the Income Tax Act, 1961. .....

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