- (1.) THE Revenue is aggrieved by an order dated 30th June, 2006 passed by the income Tax Appellate Tribunal, Delhi Bench "c" in ITA No. 3669/d/2003 relevant for the Assessment Year 2001-2002.
(2.) THE short question that has arisen for consideration in this appeal under Section 260-A of the Income Tax Act, 1961 (for short the Act) is with regard to the claim of deduction by the Assessee on customs duty drawback of rs. 42,92,725/- under Section 80-IB of the Act.
(3.) THE Assessing Officer declined to grant a deduction by relying upon the decision of the Supreme Court in Commissioner of Income Tax v. Sterling Foods, [1999] 237 ITR 579. It may at one be pointed out that the decision of the supreme Court related to import entitlement under the Export Promotion Scheme of the Government of India and on the interpretation of Section 80-HH of the Act.;