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2015 (7) TMI 808 - HC - Income TaxEntitlement to deduction on profit from sale of DEPB from its total income - whether ITAT erred in allowing the claim without fulfilling the conditions prescribed in the 3rd proviso to Section 80HHC? - Held that:- The Revenue, on the premise that the decision of the Gujarat High Court in the case of Avani Exports & Ors. V. Commissioner of Income Tax & Ors [2012 (7) TMI 190 - GUJARAT HIGH COURT] is pending before the Supreme Court has filed the present Tax Case (Appeals). Now the Supreme Court [2015 (4) TMI 193 - SUPREME COURT] has rendered a finding that the exporters having a turnover below ₹ 10.00 crores and above ₹ 10.00 crores should be treated similarly and the amendment to Section 80HHC(3) is effective prospectively. We find that the case of the respondent/assessee falls within the parameters of the above-said decision of the Gujarat High Court, affirmed by the Supreme Court. Hence, following the above-said decision of the Gujarat High Court, affirmed by the Supreme Court, we do not find any reason to entertain these appeals. - Decided in favour of assessee.
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