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2017 (9) TMI 526 - AT - Income TaxDisallowance of claim of deduction under section 80HHC of DEPB profit - Held that:- We find that this issue is clearly covered by the decision of Hon’ble Bombay High Court in the case of CIT vs Kalpataru Colours and Chemicals (2010 (6) TMI 63 - BOMBAY HIGH COUR) and also followed by Mumbai Tribunal [2013 (8) TMI 1049 - ITAT MUMBAI] whereby Tribunal has directed the AO to recompute the deduction under section 80HHC of the Act in respect of DEPB profit in the light of judgement of Hon’ble Supreme Court in the case of M/s Topman Exports (2012 (2) TMI 100 - SUPREME COURT OF INDIA ) As the issue is covered, we also directed the AO to recompute the deduction in respect of DEPB profit and accordingly, the assessee’s appeal is allowed
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