https://www.taxtmi.com/caselaws?id=255313 Duty drawback is includible in the eligible profits for deduction under section 10B because the statutory formula in sub-section (4) computes the deduction by reference to the profits of the business of the eligible undertaking, and section 10B contains no separate exclusion mechanism for such income. The Tribunal treated duty drawback as business income of the undertaking, distinguished Liberty India on the ground that it concerned provisions without this formula, and followed Maral Overseas and Hritnik Export. The assessee was therefore entitled to include duty drawback in the deduction base under section 10B. en-us Tue, 30 Dec 2014 00:00:00 +0530 Wed, 14 Jan 2015 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255313 Duty drawback is includible in the eligible profits for deduction under section 10B because the statutory formula in sub-section (4) computes the deduction by reference to the profits of the business of the eligible undertaking, and section 10B contains no separate exclusion mechanism for such income. The Tribunal treated duty drawback as business income of the undertaking, distinguished Liberty India on the ground that it concerned provisions without this formula, and followed Maral Overseas and Hritnik Export. The assessee was therefore entitled to include duty drawback in the deduction base under section 10B. Case-Laws Income Tax Tue, 30 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255313