Dismissing the appeal of the aassessee the Court held that in order to settle the dispute whether receipts by way of incentives from the Government in the nature of cash assistance, duty drawback, profits on transfer of duty entitlement passbook schemes, were capital or revenue receipts and would thus, be taxable, the Legislature inserted clauses (iiia), (iiib), (iiic), (iiid) and (iiie) in section 28 of the Income-tax Act, 1961 making these incentives taxable under the head of “Profits and gains of business and profession”. Section 80-IB provides for deduction in respect of profits and gains from certain industrial undertakings. For claiming deduction under section 80-IB, it must be on the “profits and gains derived from industrial undertakings” mentioned in section 80-IB. Profits from duty entitlement passbook schemes and duty drawback claims cannot be said to be income “derived from” the industrial undertaking and even otherwise under section 28(iiid) and (iiie), such income is chargeable to tax. The assessee is not entitled to deduction under section 80-IB on the amount of duty entitlement passbook scheme as well as duty drawback schemes. Any contrary decision of any High Court is held to be not good law. Followed CIT v. Sterling Foods (1999) 237 ITR 159 (SC), Liberty India v. CIT (2009) 317 ITR 218 (SC), Explained, CIT v. Meghalaya Steels Ltd. (2016) 383 ITR 217 (SC)   (AY. 2008-09)