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2017 (12) TMI 1621 - HC - Income TaxAccrual of income - whether duty drawn back accrues to the assessee only on passing of the order by appropriate authority and not in the year of export? - Held that:- Question 1 is answered in the negative, i.e. in favour of the Assessee and against the Revenue. Unutilized MODVAT credit for earlier years adjusted in assessment years - whether should be treated as actual payment of the excise duty under Section 43B - Held that:- Question 2 is answered in the negative, i.e. in favour of the Revenue and against the Assessee. Excess consumption of raw materials and components shown by the Assessee - Held that:- Question 3 is answered in the negative, i.e. in favour of the Assessee and against the Revenue. Not to reduce the amount of deduction allowable under Section 80-IB from the profits of business for the purpose of computing deduction under Section 80HHC? - Held that:- In view of the decisions in Great Eastern Exports v. CIT [2010 (11) TMI 91 - DELHI HIGH COURT] and Associated Capsules (P.) Ltd. v. DCIT [2011 (1) TMI 787 - BOMBAY HIGH COURT] in favor of the Assessee.
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