Is there a scenario of exercising option profitably?

Someone please explain me in detail this

I totally understand the STT applied on entire contract value if we let buy option expire

I also understand the need to square off buy positions

But one question nobody answers is this:

Is there a scenario where exercising option is more profitable even after STT deduction and premium deduction?

If a option is very deep in the money and when i let it expire as exercised , will it give more profit than a square off?

Like TCS 2000 CE call was bought and now TCS spot at 2200 thereby very deep in the money.?