M/S Saraf Exports Vs. Commissioner Of Income Tax, Jaipur-Iii | Civil Appeal No. 4822 Of 2022

Brief Facts Of The Case The present appeal filed before the Hon’ble Supreme Court pertains to assessee being dissatisfied and aggrieved by the disputed judgement passed by Hon’ble High Court of Rajasthan. Herein HC allowed the appeal filed by Revenue and went on to conclude that assessee was not allowed to claim deduction u/s 80- IB of the Income Tax Act, 1961 as far as “receipts under Duty Drawback Scheme” and “DEPB” are concerned. The assessee is a partnership firm which operated in the...