https://www.taxtmi.com/caselaws?id=55733 Export incentives such as drawback, cash assistance and replenishment licence benefits were treated as separate revenue receipts, taxable when the right to receive them accrued and not merely in the year of export. The assessee's consistent method of recording export sales on mercantile basis and export incentives on receipt basis was accepted, because rejection under section 145(1) requires a showing that the method does not properly determine income. Future benefit from replenishment licences was not assessable on notional accrual in the export year, and the weighted deduction claim for specified export-related expenses under section 35B was also upheld. en-us Mon, 30 Sep 1985 00:00:00 +0530 Mon, 29 Nov 2010 17:12:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55733 Export incentives such as drawback, cash assistance and replenishment licence benefits were treated as separate revenue receipts, taxable when the right to receive them accrued and not merely in the year of export. The assessee's consistent method of recording export sales on mercantile basis and export incentives on receipt basis was accepted, because rejection under section 145(1) requires a showing that the method does not properly determine income. Future benefit from replenishment licences was not assessable on notional accrual in the export year, and the weighted deduction claim for specified export-related expenses under section 35B was also upheld. Case-Laws Income Tax Mon, 30 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55733