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treatment of Duty Draback

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(Querist)
24 March 2010 What should be the treatment of Duty drawback received or receivable during the previous year for computation of Taxable Income of an assessee.

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Thanks
Shammi
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CA Vijay Kumar Gupta

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CA Vijay Kumar Gupta (Expert)
24 March 2010 IT IS TAXABLE U/S 28 UNDER THE HEAD BUSINESS OR PROFESSION.
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shakuntala chhangani

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shakuntala chhangani (Expert)
25 March 2010 agreed. U/s 28(iiic)it is considered as profits and gains from business and profession.
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
25 March 2010 agree with expert
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
25 March 2010 agree with experts.

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