Allowing the appeal of the assessee the Tribunal held that, Profits from assessee’s business of extraction of oil from oil palm by different processes and preservation of oil under adjusted temperature and then packaging of oil in large containers or tanks, could be said to be from business of processing, preservation and packing of fruits or vegetable eligible for deduction. (AY. 2012-13 to 2014-15)
3F Oil Palm Agrotech (P.) Ltd. v. ACIT (2019) 178 ITD 319 (Hyd.)(Trib.)
S. 80IB(11A) : Undertaking-Business of processing, preservation and packing of fruits or vegetable eligible-Business of extraction of oil from oil palm by different processes and preservation of oil under adjusted temperature and then packaging of oil in large containers or tanks, could be said to be from business of processing, preservation and packing of fruits or vegetable eligible for deduction.