https://www.taxtmi.com/caselaws?id=177073 The Tribunal ruled that modvat/cenvat receipts should be excluded for section 80IB computation, following the Supreme Court's decision in Liberty India Vs. CIT. It held that DEPB/Duty drawback benefits are not part of eligible industrial undertakings' net profits for deduction purposes. Additionally, the Tribunal determined that only net transport receipts should be considered for exclusion in computing section 80IB deduction, affirming the CIT(A)'s decision. As a result, the Revenue's appeal was partially allowed. en-us Fri, 16 Jul 2010 00:00:00 +0530 Sat, 02 Jan 2016 11:42:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177073 The Tribunal ruled that modvat/cenvat receipts should be excluded for section 80IB computation, following the Supreme Court's decision in Liberty India Vs. CIT. It held that DEPB/Duty drawback benefits are not part of eligible industrial undertakings' net profits for deduction purposes. Additionally, the Tribunal determined that only net transport receipts should be considered for exclusion in computing section 80IB deduction, affirming the CIT(A)'s decision. As a result, the Revenue's appeal was partially allowed. Case-Laws Income Tax Fri, 16 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177073