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2008 (8) TMI 339 - HC - Income TaxIndustrial under taking – exemption under section 80IB – duty drawback - While completing the assessment, the Assessing Officer disallowed the claim of deduction under section 80-IB on export incentives in a sum of Rs. 1,45,85,838 on the premise that the claim of the appellant that the duty draw back benefit was derived from the industrial undertaking – held that - Having regard to the language of section 80-I, in the face of the decisions of the apex court which were consistently followed by this court, we do not find any wound to admit the appeal on the first ground, viz., entitlement of the appellant to deduction under section 80-I in respect of duty drawback – benefit denied.
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