https://www.taxtmi.com/caselaws?id=372050 The ITAT upheld the CIT(A)'s decision allowing duty drawback and interest subsidy as deductible under Section 10B for a 100% export-oriented unit. It ruled that all business income, including export incentives, should be considered for the deduction. The ITAT also dismissed the Revenue's challenge on including other income in the deduction calculation under Section 10B, emphasizing the specific computation mechanism in Section 10B(4). Additionally, the ITAT rejected the Revenue's appeals on rectification proceedings due to a lower tax effect, ultimately dismissing the appeals. en-us Fri, 30 Nov 2018 00:00:00 +0530 Mon, 17 Dec 2018 18:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372050 The ITAT upheld the CIT(A)'s decision allowing duty drawback and interest subsidy as deductible under Section 10B for a 100% export-oriented unit. It ruled that all business income, including export incentives, should be considered for the deduction. The ITAT also dismissed the Revenue's challenge on including other income in the deduction calculation under Section 10B, emphasizing the specific computation mechanism in Section 10B(4). Additionally, the ITAT rejected the Revenue's appeals on rectification proceedings due to a lower tax effect, ultimately dismissing the appeals. Case-Laws Income Tax Fri, 30 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372050