https://www.taxtmi.com/caselaws?id=76895 HC allowed the revenue's appeal and held that amounts received on transfer of DEPB credits - both the face value and any excess realized - constitute business profits taxable under Section 28(iiid). The court found that taxing the face value when the credit accrued and taxing subsequent gains on transfer does not amount to impermissible double taxation. Clause (iiid) was inserted retrospectively to include such receipts; the Finance Minister's speech did not limit taxation to only amounts in excess of face value. The Tribunal's contrary view was declared unsustainable. en-us Tue, 29 Jun 2010 00:00:00 +0530 Thu, 28 Aug 2025 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76895 HC allowed the revenue's appeal and held that amounts received on transfer of DEPB credits - both the face value and any excess realized - constitute business profits taxable under Section 28(iiid). The court found that taxing the face value when the credit accrued and taxing subsequent gains on transfer does not amount to impermissible double taxation. Clause (iiid) was inserted retrospectively to include such receipts; the Finance Minister's speech did not limit taxation to only amounts in excess of face value. The Tribunal's contrary view was declared unsustainable. Case-Laws Income Tax Tue, 29 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76895