https://www.taxtmi.com/caselaws?id=219768 The Tribunal partly allowed and partly dismissed the appeals for the assessment years 2003-2004, 2004-2005, and 2005-2006. Deductions were denied for DEPB sale proceeds under Section 80-IB, interest from fixed deposits under Section 80-IB, and processing charges under Section 80HHC. However, deductions were allowed for exchange fluctuation gain under Section 80-IB, scrap sales under Sections 80HHC and 80-IB, and DEPB license under Section 80HHC. The Tribunal directed the AO to re-compute adjustments for Modvat credit under Section 145A and allowed the deduction for life membership fee disallowed by the AO. Further clarification was sought on deductions related to rate difference, discount received, and sundry expenses. en-us Wed, 13 Jun 2012 00:00:00 +0530 Tue, 18 Dec 2012 14:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219768 The Tribunal partly allowed and partly dismissed the appeals for the assessment years 2003-2004, 2004-2005, and 2005-2006. Deductions were denied for DEPB sale proceeds under Section 80-IB, interest from fixed deposits under Section 80-IB, and processing charges under Section 80HHC. However, deductions were allowed for exchange fluctuation gain under Section 80-IB, scrap sales under Sections 80HHC and 80-IB, and DEPB license under Section 80HHC. The Tribunal directed the AO to re-compute adjustments for Modvat credit under Section 145A and allowed the deduction for life membership fee disallowed by the AO. Further clarification was sought on deductions related to rate difference, discount received, and sundry expenses. Case-Laws Income Tax Wed, 13 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219768