https://www.taxtmi.com/caselaws?id=202685 The Tribunal held that DEPB/duty drawback benefits do not qualify as profits derived from the export of eligible articles under Section 10BA. Credits in the insurance account/rebate and discount account do not qualify for deduction under Section 10BA. The Tribunal upheld the deletion of trading additions due to lack of quantitative details. The disallowance of personal and other expenses was not justified. The matter of loans treated as deemed dividend was remitted back to the AO for fresh adjudication. Result: Appeals in ITA Nos. 276 and 33 were allowed. Appeals in ITA Nos. 291, 215, 216, 544, 210, and 203 were partly allowed. en-us Thu, 17 Sep 2009 00:00:00 +0530 Fri, 17 Aug 2012 14:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202685 The Tribunal held that DEPB/duty drawback benefits do not qualify as profits derived from the export of eligible articles under Section 10BA. Credits in the insurance account/rebate and discount account do not qualify for deduction under Section 10BA. The Tribunal upheld the deletion of trading additions due to lack of quantitative details. The disallowance of personal and other expenses was not justified. The matter of loans treated as deemed dividend was remitted back to the AO for fresh adjudication. Result: Appeals in ITA Nos. 276 and 33 were allowed. Appeals in ITA Nos. 291, 215, 216, 544, 210, and 203 were partly allowed. Case-Laws Income Tax Thu, 17 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202685