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2013 (6) TMI 225 - HC - Income TaxProfit on transfer of the Duty Entitlement Pass Book Scheme - whether required to be taken into consideration and not the quantum of sale proceeds for the purpose of sub-section iii(d) of Section 28 and Section 80 HHC - Held that:- As decided in Topman Exports's case [2012 (2) TMI 100 - SUPREME COURT OF INDIA] DEPB has direct nexus with the cost of imports for manufacturing an export product, any amount realized by the assessees over and above the DEPB on transfer of the DEPB would represent profit on the transfer of DEPB and while the face value of the DEPB will fall under clause (iiib) of Section 28, difference between the sale value and the face value of the DEPB will fall under clause (iiid) of Section 28 – Decided in favor of assessee.
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