Deduction u/s. 80-IA is not allowable on duty drawback amount- SC

Supreme Court has reversed the High Court Judgment and held that Deduction u/s. 80-IA is not allowable on duty drawback amount.  The issue involved is squarely covered by the decision of this Court in Liberty India v. CIT [2009] 317 ITR 218. Accordingly, the civil appeals filed by the department stand allowed with no order as to costs.

SUPREME COURT OF INDIA

Commissioner of Income-tax-III, Rajkot

v.

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