Assessee company was engaged in business of manufacturing of plastic packaging products such as PET and HDPE bottles, jars, caps and closures. It claimed deduction under section 80-IC. Assessing Officer  held that products manufactured by assessee were in nature of goods and articles specified in 13th schedule of Income-tax Act and, hence, assessee was not eligible to claim deduction under section 80-IC, in view of conditions imposed under section 80-IC(2)(a). Held that  claim of deduction under section 80-IC was examined thoroughly in first year of claim, i.e., assessment year 2005-06 as well as in assessment year 2007-08, and after being satisfied that conditions prescribed for claiming such deduction were fulfilled, such claim of deduction was allowed. Denial of exemption is not valid. (AY. 2005-06)