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2012 (11) TMI 417 - ITAT, AHMEDABADTaxability of profits on sale of DEPB license for working out deduction u/s.80HHC - Held that:- Co-ordinate Bench had relied on the decision of Bombay High Court while deciding the issue of profit on sale of DEPB. As decided in M/s Topman Exports Versus Commissioner of Income Tax, Mumbai [2012 (2) TMI 100 - SUPREME COURT OF INDIA] that profit on transfer of DEPB would be sale value of DEPB less its face value which represents the cost of DEPB and not the entire sum received by assessee on such transfer & ACIT vs. Saurashtra Kutch Stock Exchange Ltd. [2008 (9) TMI 11 - SUPREME COURT] that non consideration of a decision of jurisdictional court or of the Hon’ble Supreme Court can be said to be “mistake apparent from the record ” - in favour of assessee.
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