2010 (9) TMI 43

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..... d by 1. Adarsh Kumar Goel J.-This appeal has been preferred by the Revenue under section 260A of the Income-tax Act, 1961 (in short "the Act") against the order of the Income-tax Appellate Tribunal, Chandigarh Bench "A", Chandigarh (hereinafter referred to as "the Tribunal") passed in I. T. A. No. 622/CHANDI/2008 dated February 27, 2009 for the assessment year 2005-06, proposing following subst .....

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..... rred in law in not holding the DEPB benefits do not form part of the net profits of eligible industrial undertaking for the purpose of section 80-IB ? 4. Whether on the facts and circumstances of the case the hon'ble Income-tax Appellate Tribunal has erred in not following the decision of the hon'ble Punjab and Haryana High Court in the case of Liberty India v. CIT [2007] 293 ITR 520 which has be .....

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..... t house which has no relevance to the question of deduction under section 80-IB. The income derived from export incentive was not eligible for deduction under section 80-IB, not being income derived from the industrial undertaking as held by the hon'ble Supreme Court in CIT v. Sterling Foods [1999] 237 ITR 579 and this court in Liberty India v. CIT [2007] 293 ITR 520 (P&H). 5. The same view h .....

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