https://www.taxtmi.com/caselaws?id=265734 Section 28 clause (iii-c) treats customs or excise duties repaid as drawback against exports as profits and gains of business, so duty drawback or DEPB benefits form part of an undertaking's taxable business income and cannot be wholly excluded. Applying the formulaic approach analogous to other export deductions, Sub section (4) to Section 10B permits deduction only for the amount computed under the statutory formula; the entire duty drawback receipt is therefore not automatically exempt. The note highlights comparability with formula-based export deduction regimes and reliance on precedent recognising limited, formula-quantified relief. en-us Thu, 13 Nov 2014 00:00:00 +0530 Mon, 09 Feb 2026 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265734 Section 28 clause (iii-c) treats customs or excise duties repaid as drawback against exports as profits and gains of business, so duty drawback or DEPB benefits form part of an undertaking's taxable business income and cannot be wholly excluded. Applying the formulaic approach analogous to other export deductions, Sub section (4) to Section 10B permits deduction only for the amount computed under the statutory formula; the entire duty drawback receipt is therefore not automatically exempt. The note highlights comparability with formula-based export deduction regimes and reliance on precedent recognising limited, formula-quantified relief. Case-Laws Income Tax Thu, 13 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265734