Tag Archives: DEPB

Section 80IB benefit not available for DEPB income

By | July 31, 2016

HIGH COURT OF GUJARAT Banpal Oil Chem (P.) Ltd. v. Assistant Commissioner of Income-tax AKIL KURESHI AND A.J. SHASTRI, JJ. TAX APPEAL NO.188 OF 2011 JULY  7, 2016 Tushar P. Hemani, Advocate for the Appellant. Nitin Mehta, Advocate for the Respondent. JUDGMENT Akil Kureshi, J. – The assessee is in the appeal against the judgement… Read More »

DEPB and Duty Drawback not eligible for deduction u/s 80-IB

By | March 16, 2016

Held Duty drawback receipt/DEPB benefits do not form part of the net profits of eligible industrial undertaking for the purposes of section 80-I/80-IA/80-IB of the 1961 Act. SUPREME COURT OF INDIA Liberty India v. Commissioner of Income-tax* S.H. KAPADIA AFTAB ALAM, JJ. CIVIL APPEAL NO. 5891 OF 2009 AND OTHERS AUGUST 31, 2009 JUDGMENT S.H.… Read More »