Allowing the appeal of the assessee the Court held that the assessee is entitle to deduction on gross total income without reducing it by the deduction allowed u/s 80IB of the Act .Followed Associated Capsules (P) Ltd v Dy.CIT (2011) 332 ITR 42 (Bom) (HC)
IPCA Laboratories Ltd v ACIT (2019) 112 taxmann.com 331 / (2020) 268 Taxman 328 (Bom) (HC) Editorial: SLP of revenue is dismissed ACIT v IPCA Laboratories Ltd. (2020) 268 Taxman 327 (SC)
S. 80HHC : Export business – Entitle to deduction on gross total income without reducing it by the deduction allowed u/s 80IB of the Act .[ S. 80IA (9) , 80IB ]