https://www.taxtmi.com/caselaws?id=250574 The Tribunal dismissed the assessee's appeal, upholding the disallowance of deduction under section 80IC on duty draw back towards export incentives. The entire duty draw back amount was considered for assessment, following the precedent set in previous judicial decisions such as Liberty India Vs. CIT. The Tribunal emphasized the source of investment and the treatment of duty draw back as part of business profits eligible for deduction under section 80IC. Compliance with accounting basis and the inadmissibility of new arguments at the appellate stage were also discussed and upheld. en-us Thu, 07 Aug 2014 00:00:00 +0530 Tue, 19 Aug 2014 08:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250574 The Tribunal dismissed the assessee's appeal, upholding the disallowance of deduction under section 80IC on duty draw back towards export incentives. The entire duty draw back amount was considered for assessment, following the precedent set in previous judicial decisions such as Liberty India Vs. CIT. The Tribunal emphasized the source of investment and the treatment of duty draw back as part of business profits eligible for deduction under section 80IC. Compliance with accounting basis and the inadmissibility of new arguments at the appellate stage were also discussed and upheld. Case-Laws Income Tax Thu, 07 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250574