https://www.taxtmi.com/caselaws?id=203399 The High Court held that income from Duty Entitlement Pass Book (DEPB), Duty Draw Back (DBK), and Duty Free Remission Scheme (DFRC) should be treated as business income under Sections 28(iiid) and 28(iiie) of the Income Tax Act, 1961. The face value of DEPB should be deducted from the sale price for calculating profit, and such income is eligible for deduction under Section 80HHC. The case was remanded to the ITAT for a fresh decision in accordance with this interpretation, with parties instructed to appear for further proceedings. en-us Mon, 16 Aug 2010 00:00:00 +0530 Tue, 28 Jun 2011 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203399 The High Court held that income from Duty Entitlement Pass Book (DEPB), Duty Draw Back (DBK), and Duty Free Remission Scheme (DFRC) should be treated as business income under Sections 28(iiid) and 28(iiie) of the Income Tax Act, 1961. The face value of DEPB should be deducted from the sale price for calculating profit, and such income is eligible for deduction under Section 80HHC. The case was remanded to the ITAT for a fresh decision in accordance with this interpretation, with parties instructed to appear for further proceedings. Case-Laws Income Tax Mon, 16 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203399