https://www.taxtmi.com/caselaws?id=215543 The Supreme Court clarified that the face value of the DEPB falls under Section 28(iiib), while the difference between sale value and face value falls under Section 28(iiid). The Court emphasized that the entire sale proceeds of the DEPB represent profit on transfer. The Court discussed the computation of profits derived from exports under Section 80HHC, stating that the benefit of deduction cannot be denied if statutory conditions are met. Consequently, the Tribunal vacated the CIT(A)'s findings and directed the Assessing Officer to re-examine the issue based on the Supreme Court's legal position. The appeals were allowed for the assessee. en-us Mon, 28 May 2012 00:00:00 +0530 Wed, 18 Jul 2012 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215543 The Supreme Court clarified that the face value of the DEPB falls under Section 28(iiib), while the difference between sale value and face value falls under Section 28(iiid). The Court emphasized that the entire sale proceeds of the DEPB represent profit on transfer. The Court discussed the computation of profits derived from exports under Section 80HHC, stating that the benefit of deduction cannot be denied if statutory conditions are met. Consequently, the Tribunal vacated the CIT(A)'s findings and directed the Assessing Officer to re-examine the issue based on the Supreme Court's legal position. The appeals were allowed for the assessee. Case-Laws Income Tax Mon, 28 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215543