https://www.taxtmi.com/caselaws?id=181853 The appeal against the order of the Commissioner of Income Tax (Appeals) under section 143(3) of the Income Tax Act for the assessment year 2005-06 involved issues related to the claim of export incentives under Duty Drawback/DEPB and reduction of deduction under section 80IB, as well as the disallowance of telephone expenses. The Supreme Court confirmed that duty drawback/DEPB are ancillary profits and not eligible for deduction under section 80IB. The claim for deduction under section 80IB was denied due to surrendered income not being linked to industrial undertaking, following the precedent set by the Supreme Court in the Liberty India case. The disallowance of telephone expenses was partially reduced by the Tribunal. en-us Fri, 06 Nov 2009 00:00:00 +0530 Tue, 26 Apr 2016 14:35:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181853 The appeal against the order of the Commissioner of Income Tax (Appeals) under section 143(3) of the Income Tax Act for the assessment year 2005-06 involved issues related to the claim of export incentives under Duty Drawback/DEPB and reduction of deduction under section 80IB, as well as the disallowance of telephone expenses. The Supreme Court confirmed that duty drawback/DEPB are ancillary profits and not eligible for deduction under section 80IB. The claim for deduction under section 80IB was denied due to surrendered income not being linked to industrial undertaking, following the precedent set by the Supreme Court in the Liberty India case. The disallowance of telephone expenses was partially reduced by the Tribunal. Case-Laws Income Tax Fri, 06 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181853