https://www.taxtmi.com/caselaws?id=1767 The court upheld the denial of deduction under section 80-IB for duty drawback, emphasizing that the income was not "derived from" the specified business as required. Despite the assessee's arguments citing other judgments, the court relied on the principles established in previous cases and the similarity of the income in question to precedents. The court concluded that the duty drawback income did not qualify as derived from the specified business, dismissing the appeal and affirming the decision based on the Supreme Court's precedent in Sterling Foods. The court also rejected the impact of the amendment to section 80HHC on the interpretation of section 80-IB. en-us Fri, 22 Sep 2006 00:00:00 +0530 Sat, 02 Aug 2008 18:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1767 The court upheld the denial of deduction under section 80-IB for duty drawback, emphasizing that the income was not "derived from" the specified business as required. Despite the assessee's arguments citing other judgments, the court relied on the principles established in previous cases and the similarity of the income in question to precedents. The court concluded that the duty drawback income did not qualify as derived from the specified business, dismissing the appeal and affirming the decision based on the Supreme Court's precedent in Sterling Foods. The court also rejected the impact of the amendment to section 80HHC on the interpretation of section 80-IB. Case-Laws Income Tax Fri, 22 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1767