https://www.taxtmi.com/caselaws?id=118158 The Tribunal dismissed the Revenue's appeal and allowed the assessee's appeal, affirming the entitlement to deductions under sections 80-IB and 80HHC without the reductions applied by the Assessing Officer. The Tribunal held that duty drawback qualifies for deduction under section 80-IB, and excise duty should be excluded from total turnover for section 80HHC. The Tribunal directed the recomputation of business profits without reducing the deduction under section 80-IB, aligning with legal provisions and precedents from higher courts. The issue of accepting new claims in appellate proceedings was deemed academic and not adjudicated. en-us Fri, 30 Jun 2006 00:00:00 +0530 Mon, 04 Mar 2024 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118158 The Tribunal dismissed the Revenue's appeal and allowed the assessee's appeal, affirming the entitlement to deductions under sections 80-IB and 80HHC without the reductions applied by the Assessing Officer. The Tribunal held that duty drawback qualifies for deduction under section 80-IB, and excise duty should be excluded from total turnover for section 80HHC. The Tribunal directed the recomputation of business profits without reducing the deduction under section 80-IB, aligning with legal provisions and precedents from higher courts. The issue of accepting new claims in appellate proceedings was deemed academic and not adjudicated. Case-Laws Income Tax Fri, 30 Jun 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118158