2014 (3) TMI 939

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..... Tushar P. Hemani, Advocate ORDER (Per : Honourable Mr. Justice Akil Kureshi) 1. These appeals were admitted for consideration of the following substantial questions of law : "(i) Whether, on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal is right in law in coming to the conclusion that only the profits of transfer of DEPB credit can be considered for the pu .....

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..... profit of business as provided in Explanation (baa) of Section 80HHC of the Income Tax Act ?" 2. Counsel for the assessee correctly pointed out that the sole question pertaining to the treatment that DEPB credit on sale should receive for the purpose of deduction under section 80HHC of the Incometax Act, 1961, has already been concluded by the decision of the Supreme Court in the case of Topman .....

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