https://www.taxtmi.com/caselaws?id=265811 The Delhi High Court ruled on the interpretation of Section 10B of the Income Tax Act, 1961, emphasizing the computation of profits from export activities. It clarified that Sub-sections (1) and (4) of Section 10B must be harmoniously applied to determine eligible profits. The court held that duty draw back in the form of DEPB benefits falls under Section 28, clause (iii-c) as business income and should be considered for deduction accordingly. The appeal for the Assessment Year 2009-10 was dismissed, affirming that duty draw back amounts are subject to the formula under Section 10B for exemption. en-us Mon, 01 Sep 2014 00:00:00 +0530 Thu, 15 Oct 2015 16:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265811 The Delhi High Court ruled on the interpretation of Section 10B of the Income Tax Act, 1961, emphasizing the computation of profits from export activities. It clarified that Sub-sections (1) and (4) of Section 10B must be harmoniously applied to determine eligible profits. The court held that duty draw back in the form of DEPB benefits falls under Section 28, clause (iii-c) as business income and should be considered for deduction accordingly. The appeal for the Assessment Year 2009-10 was dismissed, affirming that duty draw back amounts are subject to the formula under Section 10B for exemption. Case-Laws Income Tax Mon, 01 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265811