https://www.taxtmi.com/caselaws?id=208980 The High Court ruled in favor of the revenue in a case concerning the interpretation of Sections 28(iiid) and 28(iiie) of the Income Tax Act, 1961. The key issue was whether the total sale consideration, including the face value of DEPB and premium amount, constituted profit chargeable under the mentioned sections. The Court upheld the Tribunal's decision, which did not consider the entire amount inclusive of premium as profit. Additionally, the Court addressed the computation of deduction under Section 80HHC in accordance with the relevant amendment, disposing of the appeal in favor of the revenue. en-us Wed, 23 Feb 2011 00:00:00 +0530 Sat, 03 Aug 2013 15:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208980 The High Court ruled in favor of the revenue in a case concerning the interpretation of Sections 28(iiid) and 28(iiie) of the Income Tax Act, 1961. The key issue was whether the total sale consideration, including the face value of DEPB and premium amount, constituted profit chargeable under the mentioned sections. The Court upheld the Tribunal's decision, which did not consider the entire amount inclusive of premium as profit. Additionally, the Court addressed the computation of deduction under Section 80HHC in accordance with the relevant amendment, disposing of the appeal in favor of the revenue. Case-Laws Income Tax Wed, 23 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208980