Inclusion of export-related receipts as taxable profits expands income scope to licences, export subsidies, and drawback.

The amendment inserts three new clauses into the income head to include as taxable receipts: profits on sale of licences under the Imports (Control) Order, 1955 (effective from April 1, 1962); cash assistance received or receivable for exports under Government schemes (effective from April 1, 1967); and customs or excise duties repaid or repayable as drawback under the Customs and Central Excise Duties Drawback Rules, 1971 (effective from April 1, 1972).

---

---

---