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2019 (3) TMI 141 - HC - Income TaxDeduction u/s section 80HHC - computation of benefit - entitled to claim only the Net value of the sale of DEPB (Duty Entitlements Pass Book) after deducting its face value - HELD THAT:- The controversy is no longer res integra and the same is covered by the aforesaid decision of the Hon'ble Supreme Court in ED. SASSOON AND COMPANY LIMITED AND OTHERS VERSUS COMMISSIONER OF INCOME-TAX, BOMBAY CITY [1954 (5) TMI 2 - SUPREME COURT] and the Assessee is entitled to take only the Net amount of the sale value after deducting the face value of the DEPB for the purpose of Section 80HHC while applying Explanation (baa) of the said provision in the present case. - Decided in favour of the Assessee
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