https://www.taxtmi.com/caselaws?id=208016 The Court ruled in favor of the revenue, overturning the decisions of the CIT(A) and Tribunal. It held that duty draw back did not qualify as income derived from the industrial undertaking under Section 80-I of the Income Tax Act, as it was considered ancillary profits from government schemes, distinct from profits of the eligible business. The judgment emphasized the specific criteria for qualifying profits under Section 80-I, distinguishing between export incentives and duty draw back. en-us Mon, 18 Apr 2011 00:00:00 +0530 Wed, 14 Sep 2011 22:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208016 The Court ruled in favor of the revenue, overturning the decisions of the CIT(A) and Tribunal. It held that duty draw back did not qualify as income derived from the industrial undertaking under Section 80-I of the Income Tax Act, as it was considered ancillary profits from government schemes, distinct from profits of the eligible business. The judgment emphasized the specific criteria for qualifying profits under Section 80-I, distinguishing between export incentives and duty draw back. Case-Laws Income Tax Mon, 18 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208016