https://www.taxtmi.com/caselaws?id=215990 The ITAT allowed the appeal, overturning the disallowance of deduction u/s 80HHC on DEPB/DFRC Licenses. The CIT(A) decision was set aside, following a Supreme Court judgment that directed the Assessing Officer to reconsider the issue in line with the Supreme Court's ruling. Additionally, deductions u/s 80HHC for duty drawback and sale of quota license were permitted based on relevant provisions and precedents. Appeals for assessment years 2000-01 & 2001-02 were allowed for statistical purposes, remanding the issues to the Assessing Officer for fresh consideration following the Supreme Court's ruling and applicable legal provisions. en-us Fri, 11 May 2012 00:00:00 +0530 Fri, 24 May 2013 14:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215990 The ITAT allowed the appeal, overturning the disallowance of deduction u/s 80HHC on DEPB/DFRC Licenses. The CIT(A) decision was set aside, following a Supreme Court judgment that directed the Assessing Officer to reconsider the issue in line with the Supreme Court's ruling. Additionally, deductions u/s 80HHC for duty drawback and sale of quota license were permitted based on relevant provisions and precedents. Appeals for assessment years 2000-01 & 2001-02 were allowed for statistical purposes, remanding the issues to the Assessing Officer for fresh consideration following the Supreme Court's ruling and applicable legal provisions. Case-Laws Income Tax Fri, 11 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215990