Maral Overseas Ltd. v ACIT  20 taxmann.com 346 (Indore – Trib.)(SB)
- Deduction under section 10B not deniable merely because assessee was only granted certificate for enhanced capacity by way of amendment of original certificate and not a fresh sanction letter in form of certificate.
- “Undertaking” means a unit/business which has a separate and independent existence distinct from other units/business; having independent infrastructure, separate plant and machinery being set up with substantial capital investment and having an identifiable output and profits attributable thereto can be determined.
- As long as approval is there, manner of granting approval/licence for new unit is not relevant; even endorsement on existing licence/approval would be sufficient for considering unit as distinct and separate undertaking if above definition of ‘undertaking’ is fulfilled.
- Sale of export entitlement/special import license not excludible while computing deduction –  20 taxmann.com 346 (Indore – Trib.)(SB)