TMI Blog2014 (8) TMI 525X X X X Extracts X X X X X X X X Extracts X X X X ..... 77; 14,31,796/- out of ₹ 31,84,755/- within one year from the date of exports, thus, the deduction relating to the amount of ₹ 14,31,796/- cannot be disallowed - The amount of Duty drawback either is to be included in both total turnover as well as export turnover or to be excluded from both - If the figures of export turnover and total turnover are analyze the deduction u/s 10B would come to ₹ 1,18,56,646 – thus, there was no infirmity in the conclusion drawn by the CIT(A) – Decided against Revenue. - ITA No. 6352/Del/2012, C.O. No. 29/Del/2013 - - - Dated:- 7-8-2014 - Sh. S. V. Mehrotra AM And Sh. Joginder Singh, JM,JJ. For the Petitioner : Premlata Bansal, Adv. For the Respondent : Sh. S. N. Bhatia, DR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was not received within a period of 6 months from the end of the relevant previous year. The assessee was asked to explain as to why this payment be treated as Export Sale for the year under consideration. It was claimed by the assessee that 100% EOU are allowed to bring export payments within 12 months form the date of export as per RBI circular. Unconvinced by this claim the ld. Assessing Officer reduced deduction u/s 10B by the amount of ₹ 19,12,743/-. The assessee preferred appeal before the ld. CIT(A) wherein by impugned order it was held that Duty drawback is an incentive and do not have any element of turnover, meaning-thereby, the amount of Duty drawback is to be included in both total turnover as well as export turnover or f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ne year from the date of exports, thus, the deduction relating to the amount of ₹ 14,31,796/- cannot be disallowed. The amount of Duty drawback either is to be included in both total turnover as well as export turnover or to be excluded from both. If the figures of export turnover and total turnover are analyze the deduction u/s 10B would come to ₹ 1,18,56,646/-. Thus, we find no infirmity in the conclusion drawn by the ld. CIT(A). It is upheld, resulting into dismissal of appeal of the Revenue. 5. Now we shall take up the Cross Objection raised by the assessee wherein the foreign remittance of ₹ 14,31,796/- only was allowed and not allowing the amount of ₹ 17,52,959/-. While disposing of the appeal of the Revenue ..... X X X X Extracts X X X X X X X X Extracts X X X X
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