https://www.taxtmi.com/caselaws?id=240743 The Tribunal upheld the CIT(Appeals) decision allowing deduction u/s 80HHC for DEPB profit despite initial net loss, based on retrospective amendments benefiting the assessee. The Revenue's appeal was dismissed as the Tribunal found the assessee eligible for the deduction, generating a profit after considering DEPB profit. The Tribunal emphasized the retrospective effect of the provisions and the financial impact on the assessee, ultimately affirming the allowance of the deduction and dismissing both the Revenue's appeal and the assessee's cross objection. en-us Thu, 31 Jan 2013 00:00:00 +0530 Wed, 11 Dec 2013 09:35:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240743 The Tribunal upheld the CIT(Appeals) decision allowing deduction u/s 80HHC for DEPB profit despite initial net loss, based on retrospective amendments benefiting the assessee. The Revenue's appeal was dismissed as the Tribunal found the assessee eligible for the deduction, generating a profit after considering DEPB profit. The Tribunal emphasized the retrospective effect of the provisions and the financial impact on the assessee, ultimately affirming the allowance of the deduction and dismissing both the Revenue's appeal and the assessee's cross objection. Case-Laws Income Tax Thu, 31 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240743