https://www.taxtmi.com/caselaws?id=206607 The case involved interpreting profit under Sections 28(iiid) and 28(iiie) of the Income Tax Act, 1961, particularly regarding the treatment of DEPB entitlements and deductions under Section 80HHC. The main issues included determining whether the face value of DEPB should be included in profit calculations, the impact of amendments on deduction computations, and the exclusion of certain amounts while calculating profits. The appeal scrutinized the ITAT's decisions on these matters, emphasizing the need for clarity in interpreting "profit" and applying relevant provisions accurately. en-us Mon, 10 Jan 2011 00:00:00 +0530 Wed, 09 Nov 2011 07:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206607 The case involved interpreting profit under Sections 28(iiid) and 28(iiie) of the Income Tax Act, 1961, particularly regarding the treatment of DEPB entitlements and deductions under Section 80HHC. The main issues included determining whether the face value of DEPB should be included in profit calculations, the impact of amendments on deduction computations, and the exclusion of certain amounts while calculating profits. The appeal scrutinized the ITAT's decisions on these matters, emphasizing the need for clarity in interpreting "profit" and applying relevant provisions accurately. Case-Laws Income Tax Mon, 10 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206607