2009 (7) TMI 19

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..... uty drawback and premium on DEPB which is intrinsically related/connected to the business profits of the industrial undertaking – ITAT order upheld by following the decision in the matters of India v. Commissioner of Income Tax[2007 -TMI - 1767 - HIGH COURT, PUNJAB AND HARYANA] and Five Star Rugs v. Commissioner of Income Tax[2008 -TMI - 13576 - PUNJAB AND HARYANA High Court]
ADARSH KUMAR GOEL .....

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..... 80IB of the Income Tax Act, 1961 by blindly relying upon the judgment of this Hon'ble Court in the case of Liberty India and other judgments which are distinguishable on facts itself. III. That the ITAT is not justified in reversing the orders of CIT(A) by holding that deduction u/s 80HHC of the Income Tax Act, 1961 is not available on duty drawback and sale of replenishment licenses to the appel .....

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..... Liberty India v. Commissioner of Income Tax (2007) 293 ITR 520 and Five Star Rugs v. Commissioner of Income Tax (2007) 293 ITR 553. The Tribunal upheld the same. 3. Learned counsel for the appellant is unable to dispute that the matter is covered against him by earlier judgments of this Court including judgment in I.T.A. No.629 of 2007 M/s Raj Overseas v. Commissioner of Income Tax, Karnal decide .....

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