Duty drawback is to be allowed under section 10B

Mohini Originals v. ITO (ITAT Delhi) Facts of the Case The Assessee was an EOU filed its return of income, where AO observed that they have claimed exemption under section 10B which was allowed at the time of Assessment. Deduction on duty drawback was also allowed. However, in the proceedings for the next year A.O. disallowed the deduction. Question of Law Whether the disallowance of duty drawback u/s 10B was justified? Contention of the Assessee The ld. Counsel of the Assessee relying on the Assesse’s own Judgment where it was observed that Section 10B sub-section (1) allows deduction in re...