https://www.taxtmi.com/caselaws?id=63832 The Tribunal dismissed the appeal for the assessment year 2001-02, upholding the recomputation of the deduction under Section 80HHC, requiring the entire amount realized from DEPB/DFRC transfers to be excluded from business profits. For the assessment year 2003-04, the Tribunal upheld the recomputation of the deduction under Section 80HHC, consistent with the previous year's decision. However, it set aside the levy of interest under Sections 234B and 234D, agreeing with the assessee that the interest should not apply due to the retrospective amendment and in accordance with CBDT Circular No. 2 of 2006. en-us Fri, 27 Jul 2007 00:00:00 +0530 Wed, 07 Feb 2024 13:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63832 The Tribunal dismissed the appeal for the assessment year 2001-02, upholding the recomputation of the deduction under Section 80HHC, requiring the entire amount realized from DEPB/DFRC transfers to be excluded from business profits. For the assessment year 2003-04, the Tribunal upheld the recomputation of the deduction under Section 80HHC, consistent with the previous year's decision. However, it set aside the levy of interest under Sections 234B and 234D, agreeing with the assessee that the interest should not apply due to the retrospective amendment and in accordance with CBDT Circular No. 2 of 2006. Case-Laws Income Tax Fri, 27 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63832