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2008 (8) TMI 340 - HC - Income TaxIndustrial Undertakings – exemption u/s 80IB – sale / transfer of DEPB licence – ITAT hold that the income derived by the assessee from the sale of DEPB licences was not the profit and gains from the industrial undertaking – held that - the question, as framed, is required to be, and is, answered in favour of the assessee, and against the Revenue, in the manner, that the Tribunal was not justified in holding that the income derived by the assessee from the sale of DEPB licences was not profit and gain from industrial undertaking which was held to be eligible to claim deduction under section 80-IB of the Income-tax Act, 1961, otherwise - is held entitled to deduction under section 80-IB, for both the years
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