https://www.taxtmi.com/caselaws?id=35293 The appellant-assessee claimed a deduction under section 80-IB of the Income Tax Act for profits from an industrial undertaking, including export incentives. Despite initial allowance by the Commissioner of Income Tax (Appeals), the ITAT reversed the decision based on a jurisdictional High Court ruling that export incentives like DEPB do not qualify for the deduction. The Supreme Court affirmed this position, holding that such incentives do not constitute profits derived from the industrial undertaking under section 80-IB. Consequently, the Court dismissed the appeal, finding no substantial question of law in challenging the ITAT's decision. en-us Thu, 19 Nov 2009 00:00:00 +0530 Sat, 29 Dec 2012 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35293 The appellant-assessee claimed a deduction under section 80-IB of the Income Tax Act for profits from an industrial undertaking, including export incentives. Despite initial allowance by the Commissioner of Income Tax (Appeals), the ITAT reversed the decision based on a jurisdictional High Court ruling that export incentives like DEPB do not qualify for the deduction. The Supreme Court affirmed this position, holding that such incentives do not constitute profits derived from the industrial undertaking under section 80-IB. Consequently, the Court dismissed the appeal, finding no substantial question of law in challenging the ITAT's decision. Case-Laws Income Tax Thu, 19 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35293