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TMI Blog2018 (6) TMI 51X X X X Extracts X X X X X X X X Extracts X X X X ..... ded for the purpose of computing deduction under section 10B of the Act. SEE Maral Overseas Ltd. v. Addl. CIT [2012 (4) TMI 345 - ITAT INDORE] In so far as the amount of other income is concerned, the same has been assessed as "income from other sources" and there is no material before us to distract from the same. Therefore, the said element of income, in our view, is not entitled for claim of deduction under section 10B of the Act. - Decided partly in favour of assessee - I. T. A. No. 4404/Mum/2013 - - - Dated:- 8-3-2018 - G. S. Pannu (Accountant Member) and Sandeep Gosain (Judicial Member) Nishant J. Thakkar for the appellant. T. A. Khan for the respondent. ORDER G. S. Pannu (Accountant Member). The caption ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt of ₹ 51,53,689 representing the aforestated four elements of income and redetermined the deduction under section 10B of the Act at ₹ 3,17,64,850. The Commissioner of Income-tax (Appeals) has also affirmed the stand of the Assessing Officer. The Assessing Officer as well as the Commissioner of Income-tax (Appeals) justified their decision on the ground that the aforesaid receipts/incomes do not pertain to exports and, therefore, deduction under section 10B of the Act was not allowable on such amounts. 4. Before us, the learned representative for the assessee pointed out that so far as the incomes by way of duty drawback, exchange rate fluctuation and sales tax refund are concerned, the Assessing Officer has himself assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he said aspect is clearly emerging from the assessment order. In this context, the following observations of the Special Bench of the Tribunal in the case of Maral Overseas Ltd. v. Addl. CIT (supra) are quite apt (page 613 of 16 ITR (Trib)): Thus, once an income forms part of the business of the eligible undertaking, there is no further mandate in the provisions of section 10B to exclude the same from the eligible profits. The mode of deter mining the eligible deduction under section 10B is similar to the provisions of section 80HHC inasmuch as both the sections mandates determination of eligible profits as per the formula contained therein. The only difference is that section 80HHC contains a further mandate in terms of Explanation (ba ..... X X X X Extracts X X X X X X X X Extracts X X X X
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