https://www.taxtmi.com/caselaws?id=180242 The ITAT allowed the Revenue's appeal for statistical purposes, directing the Assessing Officer to re-compute the deduction under Section 80HHC on DEPB benefits in accordance with the decision of the Special Bench. It clarified that the face value of DEPB should not be reduced from the purchase cost but treated as separate income under s. 28(iiid), with only the profit element exceeding the sale proceeds over the face value covered under the same section. The ITAT emphasized treating DEPB and export incentives as distinct business income, providing clarity on their computation. en-us Fri, 30 Apr 2010 00:00:00 +0530 Fri, 17 Jun 2016 14:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180242 The ITAT allowed the Revenue's appeal for statistical purposes, directing the Assessing Officer to re-compute the deduction under Section 80HHC on DEPB benefits in accordance with the decision of the Special Bench. It clarified that the face value of DEPB should not be reduced from the purchase cost but treated as separate income under s. 28(iiid), with only the profit element exceeding the sale proceeds over the face value covered under the same section. The ITAT emphasized treating DEPB and export incentives as distinct business income, providing clarity on their computation. Case-Laws Income Tax Fri, 30 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180242