https://www.taxtmi.com/caselaws?id=284390 The Tribunal upheld the reduction of profit eligible for deduction under Section 80IC for Duty Draw Back, stating it does not qualify as income derived from eligible business. However, the Tribunal allowed the deduction for brokerage on ocean freight and excess provisions written back. The Tribunal also upheld the deduction for interest from customers and suppliers and the insurance claim. The issue regarding the calculation of Minimum Alternate Tax (MAT) to be carried forward was rejected as it was not raised earlier. en-us Mon, 06 Jul 2015 00:00:00 +0530 Tue, 21 Jan 2020 17:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284390 The Tribunal upheld the reduction of profit eligible for deduction under Section 80IC for Duty Draw Back, stating it does not qualify as income derived from eligible business. However, the Tribunal allowed the deduction for brokerage on ocean freight and excess provisions written back. The Tribunal also upheld the deduction for interest from customers and suppliers and the insurance claim. The issue regarding the calculation of Minimum Alternate Tax (MAT) to be carried forward was rejected as it was not raised earlier. Case-Laws Income Tax Mon, 06 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284390