Supreme Court · 2023 INSC 331 · Decided 10 April 2023
M/S. Saraf Exports v. Commissioner of Income Tax, Jaipur-Iii
- Court
- Supreme Court of India
- Citation
- 2023 INSC 331 · [2023] 4 S.C.R. 338
- Case number
- CIVIL APPEAL No. 4822/2022
- Decided
- 10 April 2023
- Bench
- M.R. SHAH, B.V. NAGARATHNA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 80; Customs Act Section 75
Headnote
Income Tax Act, 1961 - ss.80-IB and 28 - Deduction u/s 80- IB - Denial of - For AY 2008-09 the respondent-assessee (partnership firm) filed its return declaring its income as nil, claiming deduction of Rs. 70,197/- on account of Duty Entitlement Pass Book Rs. 76,27,636/- on account of receipts under the Duty Drawback - Respondent claimed the same as "Profit/ gains of business/ profession" under ss. 28(iiic) and (iiib) of the Act of 1961- Deputy commissioner disallowed the deductions - The said order was upheld by
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