https://www.taxtmi.com/caselaws?id=152729 The court upheld the Assessing Officer's decision to exclude duty drawback from business profits under section 80-IB of the Income-tax Act, 1961, ruling it not as income derived from an industrial undertaking. The Tribunal dismissed the appeal regarding duty drawback claim eligibility under section 28(iiic) post-repeal of relevant rules, citing precedents and legal principles. The court found no grounds for a broader interpretation of 'derived' in relation to duty drawback, relying on established precedents. The denial of duty drawback claim by executive action was sustained based on consistent legal interpretations and precedents, leading to the dismissal of the appeal. en-us Tue, 09 Sep 2008 00:00:00 +0530 Tue, 09 Jul 2013 14:48:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152729 The court upheld the Assessing Officer's decision to exclude duty drawback from business profits under section 80-IB of the Income-tax Act, 1961, ruling it not as income derived from an industrial undertaking. The Tribunal dismissed the appeal regarding duty drawback claim eligibility under section 28(iiic) post-repeal of relevant rules, citing precedents and legal principles. The court found no grounds for a broader interpretation of 'derived' in relation to duty drawback, relying on established precedents. The denial of duty drawback claim by executive action was sustained based on consistent legal interpretations and precedents, leading to the dismissal of the appeal. Case-Laws Income Tax Tue, 09 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152729