2017 (1) TMI 1454 - HC - Income Tax

Appeal is admitted on the following substantial questions of law (i) Whether the income from the duty draw back and sale of export license does not qualify as profit derived by an undertaking from the export out of India of eligible articles or things for allowing deduction u/s 10BA of the Act? (ii) Whether the order of the Ld. Tribunal does not got vitiated on account of apparent inconsistency of reversing the order of Ld. CIT(A) and simultaneously setting aside the ground of appeal to the Ld. Assessing Officer?

Summary

The High Court of Rajasthan admitted the appeal based on substantial questions of law regarding income from duty drawback and sale of export license not qualifying for deduction under section 10BA of the Act. The court also raised concerns about the inconsistency in the Tribunal's order. Notice was issued to the respondent.