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2012 (8) TMI 988 - ITAT AHMEDABADDeduction u/s 154 - deduction allowable to the assessee u/s 80HHC - Held that:- There is apparent mistake in the impugned tribunal order as the claim of the assessee regarding deduction u/s 80HHC in respect of DEPB entitlement/DEPB income was decided against the assessee for the whole amount but as per the judgment in the case of Topman Exports (2012 (2) TMI 100 - SUPREME COURT OF INDIA), only profit on sale of DEPB should be considered for the purpose of exclusion form business profit for computing deduction allowable to the assessee u/s 80HHC and or the computation of profit on sale of DEPB, face value of DEPB is to be considered as costs of DEPB. We, therefore, rectify this apparent mistake in the impugned tribunal order and hold that this issue should go back to the file of the A.O. for a fresh decision as per this judgement of Hon’ble Apex Court rendered in the case of Topman Exports (supra).
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