https://www.taxtmi.com/caselaws?id=217080 The High Court upheld the Tribunal's decision to allow the deduction under section 80IA by including duty drawback in the cost of production. The Court emphasized that duty drawback is an essential component of reducing production costs by reimbursing exporters for tariffs and excise duties paid on raw materials. It clarified that duty drawback should be reflected in the Profit & Loss Account and distinguished it from general incentives. The Court found duty drawback integral to the pricing of goods and upheld the assessee's claim, dismissing the appeal. en-us Thu, 14 Jun 2007 00:00:00 +0530 Wed, 03 Oct 2012 07:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217080 The High Court upheld the Tribunal's decision to allow the deduction under section 80IA by including duty drawback in the cost of production. The Court emphasized that duty drawback is an essential component of reducing production costs by reimbursing exporters for tariffs and excise duties paid on raw materials. It clarified that duty drawback should be reflected in the Profit & Loss Account and distinguished it from general incentives. The Court found duty drawback integral to the pricing of goods and upheld the assessee's claim, dismissing the appeal. Case-Laws Income Tax Thu, 14 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217080