https://www.taxtmi.com/caselaws?id=207205 The High Court clarified that the entire amount received on the transfer of Duty Entitlement Pass Book (DEPB) constitutes profit under Section 28(iiid) of the Income Tax Act. It mandated that the entire DEPB receipts should be considered as business profit, with 90% of these receipts excluded when computing the deduction under Section 80HHC. The Tribunal ruled in favor of the Revenue, aligning with the High Court's directive and rejecting the assessee's argument for a different interpretation of "profit on transfer." en-us Fri, 24 Dec 2010 00:00:00 +0530 Sat, 08 Oct 2011 09:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207205 The High Court clarified that the entire amount received on the transfer of Duty Entitlement Pass Book (DEPB) constitutes profit under Section 28(iiid) of the Income Tax Act. It mandated that the entire DEPB receipts should be considered as business profit, with 90% of these receipts excluded when computing the deduction under Section 80HHC. The Tribunal ruled in favor of the Revenue, aligning with the High Court's directive and rejecting the assessee's argument for a different interpretation of "profit on transfer." Case-Laws Income Tax Fri, 24 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207205