https://www.taxtmi.com/caselaws?id=207528 The appeal focused on the interpretation of profit under Sections 28(iiid) and 28(iiie) of the Income Tax Act, 1961, particularly concerning the calculation of profit on the transfer of Duty Entitlement Passbook (DEPB) entitlement. The Income Tax Appellate Tribunal (ITAT) was challenged for not considering the total sale consideration inclusive of the face value of DEPB and premium amount as profit chargeable under the Act. The appellant cited relevant court judgments, leading to the disposal of the appeal in favor of the revenue without issuing notice to the respondent. The respondent was granted liberty to challenge the order if needed. en-us Thu, 03 Mar 2011 00:00:00 +0530 Thu, 15 Dec 2011 09:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207528 The appeal focused on the interpretation of profit under Sections 28(iiid) and 28(iiie) of the Income Tax Act, 1961, particularly concerning the calculation of profit on the transfer of Duty Entitlement Passbook (DEPB) entitlement. The Income Tax Appellate Tribunal (ITAT) was challenged for not considering the total sale consideration inclusive of the face value of DEPB and premium amount as profit chargeable under the Act. The appellant cited relevant court judgments, leading to the disposal of the appeal in favor of the revenue without issuing notice to the respondent. The respondent was granted liberty to challenge the order if needed. Case-Laws Income Tax Thu, 03 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207528