TMI Blog2014 (3) TMI 27X X X X Extracts X X X X X X X X Extracts X X X X ..... out of the DEPB – Held that:- The decision in M/s Topman Exports Versus Commissioner of Income Tax, Mumbai [2012 (2) TMI 100 - SUPREME COURT OF INDIA] followed - for allowance of relief under section 80HHC(3)of the Act only the profit and not entire sales proceeds arising out of the DEPB is required to be reduced/considered – Decided against Revenue. - TAX APPEAL NO. 2245 TO 2247 of 2010 - - - Da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. In all these appeals a common question of law which arise for consideration is as to whether the Tribunal below has committed any error of law in restoring the issue to the file of the Assessing Officer for allowance of relief under section 80HHC(3) of the Income Tax Act by reducing only profit and not entire sale proceeds arising out of the DEPB. 4. Shri S.N. Soparkar, learned Senior co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the above. He has also not pointed out any contrary decision to the decision of the Hon'ble Supreme Court in the case of Topman Exports (supra) relied upon by the learned advocate for the assessee. 6. Having heard Shri Sudhir Mehta, learned advocate for the revenue and Shri S.N. Soparkar, learned Senior counsel for the assessee and the issue involved in the present appeals and the question ..... X X X X Extracts X X X X X X X X Extracts X X X X
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