https://www.taxtmi.com/caselaws?id=466715 Duty drawback is characterised as a reimbursement and for computing deduction-eligible business profits under the relevant enactment it must be excluded only to the extent of the net benefit after offsetting corresponding customs and excise duties paid; the matter is remitted to the Assessing Officer to verify whether duties paid exceed drawback receipts and to redetermine the deduction accordingly. Separately, the claim for deduction attributable to interest on KDRs was not pursued due to its small amount and that challenge is dismissed as not pressed. en-us Wed, 10 Jul 2024 00:00:00 +0530 Tue, 17 Feb 2026 15:45:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466715 Duty drawback is characterised as a reimbursement and for computing deduction-eligible business profits under the relevant enactment it must be excluded only to the extent of the net benefit after offsetting corresponding customs and excise duties paid; the matter is remitted to the Assessing Officer to verify whether duties paid exceed drawback receipts and to redetermine the deduction accordingly. Separately, the claim for deduction attributable to interest on KDRs was not pursued due to its small amount and that challenge is dismissed as not pressed. Case-Laws Income Tax Wed, 10 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466715