No Deduction u/s 80IB on Profit from DEPB /Duty Drawback Schemes: SC [Read Judgement]

Deduction - Profit - DEPB - Duty Drawback Schemes - Supreme Court - Taxscan

The Supreme Court of India in its recent judgement has held that no deduction under section 80IB of the Income Tax Act, 1961 is allowable on profit from Duty Entitlement Pass Book Scheme (DEPB) / duty drawback schemes.  The appellant, M/s. Saraf Exports challenged the impugned judgment and order passed by the High Court of…

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