Does income derived from sale of export incentive qualify for deduction under section 80-IB?

CIT Vs. Jaswand Sons (2010) 328 ITR 442 (P&H) – On this issue, the High Court held that income derived from sale of export incentive cannot be said to be income ‘derived from’ the industrial undertaking and therefore, such income is not eligible for deduction under section 80-IB. HIGH COURT OF PUNJAB & HARYANA COMMISSIONER OF INCOME TAX Vs. JASWAND SONS IT Appeal No. 91 of 2010- Asst. Year 2005- 06 Date of Decision- 29th September, 2010 JUDGMENT Adarsh Kumar GoeL, J. : This appeal has been preferred by the Revenue under s. 260A of the IT Act, 1961 (...