Supreme Court: Vacancies From Resignations under CUSAT Act Must Follow Communal Rotation  ||  Supreme Court: Forest Land Cannot Be Leased or Used For Agriculture Without Centre’s Approval  ||  Supreme Court: Gravity of Offence and Accused’s Role Must Guide Suspension of Sentence under CrPC  ||  Supreme Court: Arbitral Awards Cannot be Set Aside For Mere Legal Errors or Misreading of Evidence  ||  SC Acknowledges Child Trafficking as a Grave Reality and Issues Guidelines to Assess Victim Evidence  ||  Allahabad HC: When Parties Extend an Agreement by Conduct, The Arbitration Clause Extends Too  ||  Supreme Court: Issues of Party Capacity and Maintainability Must Be Decided by Arbitral Tribunal  ||  Supreme Court: Omissions in Chief Examination Can Be Rectified During Cross-Examination  ||  Supreme Court: Items Given by Accused to Police Are Not Section 27 Recoveries under Evidence Act  ||  Gujarat High Court: Waqf Institutions Must Pay Court Fees When Filing Disputes in State Tribunal    

SC: Can’t Claim Deduction U/S 80IB IT Act on Amount Received from DEPB and Duty Drawback Claims - (13 Apr 2023)

DIRECT TAXATION

Supreme Court has held that profit from Duty Entitlement Pass Book Scheme (DEPB) and the Duty Drawback claims cannot be said to be an income “derived from” the industrial undertaking, and therefore assessee is not entitled to deduction for such amount under Section 80- IB of Income Tax Act, 1961.

Tags : SUPREME COURT   DUTY ENTITLEMENT PASS BOOK SCHEME   DUTY DRAWBACK   DEDUCTION  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved