https://www.taxtmi.com/caselaws?id=436394 Profits from Duty Entitlement Pass Book and Duty Drawback schemes are not profits derived from the industrial undertaking for Section 80-IB deduction because the statutory phrase "derived from" requires a direct nexus with the undertaking itself. Export incentives taxable under Section 28(iiid) and Section 28(iiie), though treated as business income, are independent and ancillary receipts rather than income arising directly from the industrial undertaking. The deduction claim therefore fails, and the conclusion is in favour of Revenue. en-us Mon, 10 Apr 2023 00:00:00 +0530 Wed, 03 Jun 2026 18:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436394 Profits from Duty Entitlement Pass Book and Duty Drawback schemes are not profits derived from the industrial undertaking for Section 80-IB deduction because the statutory phrase "derived from" requires a direct nexus with the undertaking itself. Export incentives taxable under Section 28(iiid) and Section 28(iiie), though treated as business income, are independent and ancillary receipts rather than income arising directly from the industrial undertaking. The deduction claim therefore fails, and the conclusion is in favour of Revenue. Case-Laws Income Tax Mon, 10 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436394