https://www.taxtmi.com/caselaws?id=210468 SC held that on sale of a DEPB the taxable profit is the sale consideration less the DEPB's face value, not the entire receipt. The Court also ruled that the 90% deduction under the relevant provision applies to net interest/rent included in profits from business (PGBP), not to gross interest/rent. The matter was remanded to the assessing officer to compute deductions accordingly. Both questions were decided in favor of the assessee. en-us Wed, 08 Feb 2012 00:00:00 +0530 Mon, 18 Aug 2025 16:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210468 SC held that on sale of a DEPB the taxable profit is the sale consideration less the DEPB's face value, not the entire receipt. The Court also ruled that the 90% deduction under the relevant provision applies to net interest/rent included in profits from business (PGBP), not to gross interest/rent. The matter was remanded to the assessing officer to compute deductions accordingly. Both questions were decided in favor of the assessee. Case-Laws Income Tax Wed, 08 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210468