Supreme Court · 2009 INSC 1094 · Decided 31 August 2009
M/S Liberty India v. Commissioner of Income Tax
- Court
- Supreme Court of India
- Citation
- 2009 INSC 1094 · [2009] 13 S.C.R. 1037
- Case number
- CIVIL APPEAL No. 5891/2009
- Decided
- 31 August 2009
- Bench
- S.H. KAPADIA, AFTAB ALAM (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
A B ·~ • INCOME TAX ACT,.1961: s. 80-IB - Profits and gains derived from eligible business c - Duty drawback receipt/DEPB benefits - HELD: Do not form part of the net profits of eligible industrial undertaking for the purposes of ss. 80-1180-1 A/80-IB - Expression "derived in connotation as compared ...( · to words "attributable to" - By using expression "derived from~ 0 .. • Parliament intended to cover sources not beyond the first degree - Profits derived by way of incentives, namely DEPB · and duty drawback do not fall
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