NEKKANTI SEA FOODS LIMITED,VISAKHAPATNAM vs. ASSISTANT COMMISSIONER OF INCOME-TAX, VISAKHAPATNAM

In the result, appeal of the assessee is dismissed

217 (SC), he therefore submitted\nthat DEPB benefits goes to reduce the cost of production and hence it should be\nconsidered as profits and gains derived from the industrial undertaking which is\neligible for deduction under section 80IB of the Act. He also reiterated the\nsame arguments in his written submissions filed before us.\n8.\nPer contra, Ld. Departmental Representative