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HomeIndirect TaxesSection 80-IC Deduction: Delhi High Court Allows Set-Off of Excise, Customs Duty...

Section 80-IC Deduction: Delhi High Court Allows Set-Off of Excise, Customs Duty Against Duty Drawback

Indirect Taxes

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By Mariya Paliwala
delhi high court

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The Delhi High Court has held that while duty drawback cannot be treated as profit derived from an industrial undertaking for the purposes of Section 80-IC of the Income Tax Act, the excise and customs duties paid on raw materials must be deducted from the duty drawback amount before making any addition to income. The…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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