Assessee-company sold its godown situated in an urban area and which had been relocated in a non-urban area, and claimed deduction . AO  held that property sold by assessee was only a godown and used for storing fireworks and held that it could not be interpreted to mean an industrial undertaking. Accordingly the claim was disallowed .  Tribunal allowed the claim of the assessee . On appeal High Court held that  the AO failed to take note of vital factor, namely, that property which was sold by assessee was a magazine and as per scheme of Explosive Act, 1884, a magazine would be equivalent to a godown and qualify to be a place used for purpose of business of an industrial undertaking and, thus, assessee was eligible deduction . ( AY. 2014 -15)