Samode Group, comprised of diversified business entities, is having its registered office located at Jaipur with various business verticals located at different places within and outside the country. The Board of directo

Samode Group, comprised of diversified business entities, is having its registered office located at Jaipur with various business verticals located at different places within and outside the country. The Board of directors regularly have meetings with the heads of each of the business verticals, along with group Finance Director, Company Secretary, Director Taxation and other senior managers and consultants, for reviewing the business results of each of the units and to sort out the various issues. A meeting of all these heads was scheduled for 30th August, 2019 to discuss the various matters relating to taxation and to ascertain as to filing of the return of income of the group companies for the A.Y. 2019-20. The matters which were scheduled for discussion in this meeting, as listed were as under: (3) Another company of the Samode Group has received duty drawback under a scheme framed by the Central Government as per the provisions of the Customs Act, 1962 of ₹ 20 lakhs. This company is entitled to claim a deduction under section 80-IB of the Income-tax Act, 1961 and wants to claim the amount of duty drawback so received as forming part of profits of the eligible undertaking for claiming deduction u/s 80-IB. Advise the company as to whether the amount of duty drawback received will form part of the profits derived by the eligible undertaking for claiming deduction under section 80-IB. Support your advice with the ruling given by the Court, if any.