Itr-7. village industries

A return is to be filed for a village industry that comes under ITR-7 through Sec 139(4C) (Sec 23B -Khadi or village industries). Its business unit was acquired by NH Authorities . But the benefit was invested in another business unit within the due date of its return filing. As the society comes under Sec 139(4C), can we claim deduction as exemption u/s 11A? Society is not registered under Sec 23A.