https://www.taxtmi.com/caselaws?id=219440 The High Court dismissed all appeals of the Revenue, upholding the eligibility of the assessee for deductions under Section 80 HHC for both DEPB credit and moneys received on the sale of SIL. The court clarified that 90% of the DEPB credit should be excluded from assessed profits under Section 80 HHC, and that SIL sale proceeds should not be excluded based on the specific criteria mentioned in Section 28. The Assessing Officer was directed to re-compute the deductions in accordance with the court's interpretation and established legal principles. en-us Wed, 05 Dec 2012 00:00:00 +0530 Sat, 26 Oct 2013 13:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219440 The High Court dismissed all appeals of the Revenue, upholding the eligibility of the assessee for deductions under Section 80 HHC for both DEPB credit and moneys received on the sale of SIL. The court clarified that 90% of the DEPB credit should be excluded from assessed profits under Section 80 HHC, and that SIL sale proceeds should not be excluded based on the specific criteria mentioned in Section 28. The Assessing Officer was directed to re-compute the deductions in accordance with the court's interpretation and established legal principles. Case-Laws Income Tax Wed, 05 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219440