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2014 (8) TMI 5 - HC - Income TaxDeduction u/s 80IA - Central Excise Duty set off and Sales Tax set off – Whether the Tribunal was right in law in confirming that assessee was not entitled to deduction u/s 80IA of the Act, 1961 in respect of Central Excise Duty set off and sales tax set off - Held that:- In respect of DEPB and duty drawback the assessee is not entitled to deduction under Section 80IB of the Act - Following the decision in M/s Liberty India Versus Commissioner of Income Tax [2009 (8) TMI 63 - SUPREME COURT] - the assessee must claim the Central Excise Duty set off to be in the nature of duty drawback linked with export profit while claiming deduction u/s 80HHC of the Act - for claiming deduction u/s 80HHC, the assessee itself claimed that Central Excise Duty set off is export incentive by way of duty drawback, the assessee cannot take different stand while claiming deduction u/s 80IA - the stand taken by the assessee while claiming deduction u/s 80HHC under the Act, the Tribunal has rightly held that the assessee shall not be entitled to deduction u/s 80IA of the Act on the Central Excise Duty set off as well as Sales Tax set off – Decided against Assessee.
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