https://www.taxtmi.com/caselaws?id=276087 The High Court ruled in favor of the Assessee regarding the interpretation of duty drawn back accrual for tax purposes, deletion of addition on excess consumption of raw materials, and reduction of deduction under Section 80-IB for Section 80HHC. However, the Court ruled in favor of the Revenue regarding the treatment of unutilized MODVAT credit under Section 43B of the Income Tax Act. The High Court provided detailed reasoning and cited legal precedents in disposing of the appeal with varying outcomes on each issue. en-us Thu, 07 Dec 2017 00:00:00 +0530 Wed, 12 Dec 2018 13:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276087 The High Court ruled in favor of the Assessee regarding the interpretation of duty drawn back accrual for tax purposes, deletion of addition on excess consumption of raw materials, and reduction of deduction under Section 80-IB for Section 80HHC. However, the Court ruled in favor of the Revenue regarding the treatment of unutilized MODVAT credit under Section 43B of the Income Tax Act. The High Court provided detailed reasoning and cited legal precedents in disposing of the appeal with varying outcomes on each issue. Case-Laws Income Tax Thu, 07 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276087