https://www.taxtmi.com/caselaws?id=1917 The Tribunal ruled in favor of the assessee regarding the deduction under section 80HHC on DEPB income for the assessment year 2001-02. The matter was restored to the Assessing Officer for computation of the deduction as per the amended provisions, resulting in the Revenue's appeal being dismissed. However, the assessee's cross-objection challenging the exclusion of DEPB receipts from business income for deduction under section 80-IB was dismissed. The Tribunal held that DEPB profits do not have a direct nexus with the business of the industrial undertaking, thus denying the deduction under section 80-IB on DEPB profits. en-us Fri, 17 Nov 2006 00:00:00 +0530 Sat, 15 Jun 2013 17:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1917 The Tribunal ruled in favor of the assessee regarding the deduction under section 80HHC on DEPB income for the assessment year 2001-02. The matter was restored to the Assessing Officer for computation of the deduction as per the amended provisions, resulting in the Revenue's appeal being dismissed. However, the assessee's cross-objection challenging the exclusion of DEPB receipts from business income for deduction under section 80-IB was dismissed. The Tribunal held that DEPB profits do not have a direct nexus with the business of the industrial undertaking, thus denying the deduction under section 80-IB on DEPB profits. Case-Laws Income Tax Fri, 17 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1917