https://www.taxtmi.com/caselaws?id=384219 The High Court affirmed the Tribunal's decision, dismissing the appeals. It held that the Commissioner of Income Tax was justified in invoking Section 263 due to errors in the assessment order. The Tribunal's confirmation of the Commissioner's order was deemed valid, despite not fully addressing the appellant's submissions. Duty drawback receipts were ruled ineligible for deduction under Section 80IB, as they are not considered profits derived from the industrial undertaking. The substantial questions of law were answered against the assessee, with no costs awarded. en-us Tue, 23 Jul 2019 00:00:00 +0530 Thu, 08 Aug 2019 09:27:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384219 The High Court affirmed the Tribunal's decision, dismissing the appeals. It held that the Commissioner of Income Tax was justified in invoking Section 263 due to errors in the assessment order. The Tribunal's confirmation of the Commissioner's order was deemed valid, despite not fully addressing the appellant's submissions. Duty drawback receipts were ruled ineligible for deduction under Section 80IB, as they are not considered profits derived from the industrial undertaking. The substantial questions of law were answered against the assessee, with no costs awarded. Case-Laws Income Tax Tue, 23 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384219