https://www.taxtmi.com/caselaws?id=34894 The court dismissed the appeals challenging the disallowance of deduction under section 80-IB on duty drawback benefits for assessment years 2002-03 and 2003-04. It held that duty drawback benefits must have a direct nexus with the industrial undertaking to qualify for the deduction. The court emphasized that profits eligible for deduction under section 80-IB must be directly derived from the industrial undertaking itself, affirming the consistent interpretation of the law. The appeals were dismissed, upholding the disallowance of the claim for deduction on duty drawback benefits. en-us Wed, 06 Aug 2008 00:00:00 +0530 Sat, 07 Nov 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34894 The court dismissed the appeals challenging the disallowance of deduction under section 80-IB on duty drawback benefits for assessment years 2002-03 and 2003-04. It held that duty drawback benefits must have a direct nexus with the industrial undertaking to qualify for the deduction. The court emphasized that profits eligible for deduction under section 80-IB must be directly derived from the industrial undertaking itself, affirming the consistent interpretation of the law. The appeals were dismissed, upholding the disallowance of the claim for deduction on duty drawback benefits. Case-Laws Income Tax Wed, 06 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34894