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TMI Blog2010 (2) TMI 1146X X X X Extracts X X X X X X X X Extracts X X X X ..... tant appeal filed by the Revenue under section 260A of the Income-tax Act, 1961 (for brevity 'the Act') is directed against order dated 13-3-2009 passed by the Income-tax Appellate Tribunal, Delhi Bench 1, New Delhi in ITA No. 1577/Delhi/2005 in respect of the assessment year 2001-02. The Tribunal has refused to include the amount of ₹ 1,41,06,095 under the head 'Business profit'. The afores ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n was in issue in the case of Liberty India) are by and large similar, whether the ld. ITAT was correct in relying on the ratio of the Hon'ble Delhi High Court in CIT v. Eltek SGS 300 ITR 6 when the Hon'ble Punjab and Haryana High Court, whose decision are binding for this charge, has in the case of Liberty India v. CIT, Karnal 237 ITR 52 taken an opposite view, and held that export incentive are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se of Liberty India v. CIT [2007] 293 ITR 5201. The aforesaid view has been upheld by Hon'ble the Supreme Court in the case of Liberty India v. CIT [2009] 317 ITR 2182. It has been categorically held that Duty Draw Back receipt and DPEB benefits do not form part of the net profits of eligible industrial undertakings for the purposes of deduction under section 80-I/80-IA/80-IB of the Act. According ..... X X X X Extracts X X X X X X X X Extracts X X X X
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