S.C : Computation of deduction – Deduction under section 80-IA is not allowable on amount of duty drawback

Supreme Court Of India

CIT-III, Rajkot vs. Orchev Pharma (P.) Ltd.

Section : 80-IA

S.H. Kapadia, CJI And Madan B. Lokur, J.

S.L.P. (C) No. 9261 Of 2009 Civil Appeal Nos. 5995 & 5996 Of 2012

August 23, 2012

ORDER

1. Heard learned counsel on both sides.

2. Delay condoned.

3. Leave granted.

4. The civil appeals filed by the Department are allowed with no order as to costs.

ORDER

1. Heard learned counsel on both sides.

2. Delay condoned.

3. Leave granted.

4. The issue involved is squarely covered by the decision of this Court in Liberty India v. CIT [2009] 317 ITR 218/183 Taxman 349. Accordingly, the civil appeals filed by the department stand allowed with no order as to costs.

[Citation : 354 ITR 227]

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