NCLAT: Consideration of Debt Restructuring by Lenders Doesn’t Bar Member from Initiating Proceedings  ||  Delhi High Court: In Matters of Medical Evaluation, Courts Should Exercise Restraint  ||  Delhi HC: Any Person in India Has Right to Legally Import Goods from Abroad and Sell the Same  ||  Delhi HC: Waiver to Section 12(5) of Arbitration Act to be Given Once Tribunal is Constituted  ||  Supreme Court Has Asked States to Regularise Existing Court Managers  ||  SC: Union & States to Create Special POSCO Courts on Top Priority  ||  SC Upholds Authority of CERC to Award Compensation for Delays  ||  SC: Arbitral Tribunal Has Discretion to Include in Sum Awarded, Interest at Rate as it Deems Reasonab  ||  SC: Cannot Use Article 142 to Frame Guidelines on Judicial Recusal  ||  SC: Satisfaction Recorder in One EP Won’t Affect Subsequent EPs for Future Breaches    

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