https://www.taxtmi.com/caselaws?id=242594 The High Court ruled in favor of the assessee regarding the retrospective nature of the amendment to the proviso to sec. 43B by the Finance Act, 2003, allowing deduction if the amount was deposited within the grace period. However, the Court sided with the revenue in the dispute over the eligibility of income from duty drawback for deduction under Section 80IB, stating that duty drawback income should be excluded from the profits eligible for deduction. The appeal was partly allowed in favor of the revenue on this issue. en-us Thu, 26 Dec 2013 00:00:00 +0530 Sat, 18 Jan 2014 10:38:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242594 The High Court ruled in favor of the assessee regarding the retrospective nature of the amendment to the proviso to sec. 43B by the Finance Act, 2003, allowing deduction if the amount was deposited within the grace period. However, the Court sided with the revenue in the dispute over the eligibility of income from duty drawback for deduction under Section 80IB, stating that duty drawback income should be excluded from the profits eligible for deduction. The appeal was partly allowed in favor of the revenue on this issue. Case-Laws Income Tax Thu, 26 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242594