2013 (5) TMI 88

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....le Mr. Justice Akil Kureshi) Revenue is in appeal against the judgment of the Tribunal dated 12.12.08 raising following questions: "A. Whether on the facts and circumstances of the case and in law, the Appellate Tribunal was right in holding that the income from duty draw back of Rs.4,18,744/- is eligible for deduction u/s.80IB of the Act? B. Whether on the facts and circumstances of the ....

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....ofit as the profit has already been determined as per P.& L. Account. On the other hand, the learned counsel for the assessee reiterated the submissions made before the lower authorities. He also relied on the decision of the Hon'ble Punjab & Haryana High Court in the case of CIT v. Bawa Skin Company (2007) 294 ITR 537 (P&H). He has also referred to the decisions cited before the CIT(A). the concl....

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.... that the Tribunal committed any error in respect of question No.2. The claim of the assessee for deduction on commission or brokerage was disallowed placing reliance on section section 40(a)(ia) of the Income Tax Act, 1961 on the ground that the assessee had failed to deduct the tax at source. Revenue also desired that such expenditure be excluded for the purpose of section 80IB of the Act. We ar....