TMI Blog2011 (1) TMI 476X X X X Extracts X X X X X X X X Extracts X X X X ..... .C. Sondhi & Company (P) Ltd., whereby the matter was remanded to the Tribunal - Accordingly, subject to the right of the respondent to move the Court if aggrieved, dispose of the said questions in same terms. Deleting the charging of interest under section 234D - chargibility of interest u/s 234D of the Act for the assessment year 2001-02, the said provision having been incorporated only w.e.f. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her on the facts and circumstances of the case, the ITAT was right in law in not holding that total sale consideration inclusive of face value of DEPB and premium amount received thereof represents profit chargeable under sections 28(iiid) and 28(iiie) of the Income Tax Act, 1961? (ii) Whether on the facts and circumstances of the case, the ITAT was right in law in not holding that profit on t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... facts and circumstances of the case, the ITAT was right in law in holding that the word profit referred to in Sections 28(iiid) and 28(iiie) of the Income Tax Act, 1961 requires any artificial cost to be interpolated to the extent that the face value of DEPB/DFRC should be deducted from the sale proceed for the purpose of determination of deduction under Section 80HHC of the Income Tax Act, 1961? ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fact that the provisions of section 234D are applicable on action taken after 01.06.2003 irrespective of the Assessment Year involved? 2. As far as questions (i) to (vi) are concerned, it is stated that the same are covered by earlier order of this Court dated 16.8.2010 in I.T.A. No.299 of 2010 CIT v. M/s F.C. Sondhi Company (P) Ltd., whereby the matter was remanded to the Tribunal. According ..... X X X X Extracts X X X X X X X X Extracts X X X X
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