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2017 (3) TMI 272 - GUJARAT HIGH COURTDeduction u/s 80HHC computation - inclusion of income arising from the sale of DEPB licence - Held that:- It is the case on behalf of the assessee that the assessee never transferred / sold DEPB Licenses, for which deduction under section 80HHC was claimed and in fact the same were used for house consumption. Therefore, when the issue has been remanded to the A.O., the A.O. is required to consider whether, in fact, DEPB Licenses, for which deduction claimed under section 80HHC, has been transferred by the assessee or not and appropriate decision is required to be taken by the A.O. considering the decision in the case of Topman Exports (2012 (2) TMI 100 - SUPREME COURT OF INDIA ) wherein held if the assessee has not transferred and/or sold the DEPB Licenses, in that case, the assessee is entitled to deduction under section 80HHC. Thus it cannot be said that the learned tribunal has committed any error in confirming the order passed by the learned CIT(A) remanding the matter to the A.O. However, it is observed that on remand the A.O. is required to consider the case on behalf of the assessee whether DEPB Licenses for which deduction under section 80HHC has been claimed, were, in fact, transferred / sold by the assessee or not - Decided in favour of assessee for statistical purposes.
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