https://www.taxtmi.com/caselaws?id=187282 The appeal under section 260-A of the Income Tax Act, 1961 was disposed of by the High Court in favor of the appellant. The court upheld the appellant's contentions regarding profit calculation under Sections 28(iiid) and 28(iiie) and deduction under section 80HHC, emphasizing that the total sale consideration, inclusive of face value of DEPB and premium amount, should be considered as profit chargeable. The court also clarified that the profit on transfer of DEPB entitlement should be the entire amount inclusive of premium. The court relied on previous decisions supporting the appellant's position and disposed of the appeal without issuing notice to the respondent. en-us Mon, 13 Sep 2010 00:00:00 +0530 Mon, 17 Oct 2016 12:47:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187282 The appeal under section 260-A of the Income Tax Act, 1961 was disposed of by the High Court in favor of the appellant. The court upheld the appellant's contentions regarding profit calculation under Sections 28(iiid) and 28(iiie) and deduction under section 80HHC, emphasizing that the total sale consideration, inclusive of face value of DEPB and premium amount, should be considered as profit chargeable. The court also clarified that the profit on transfer of DEPB entitlement should be the entire amount inclusive of premium. The court relied on previous decisions supporting the appellant's position and disposed of the appeal without issuing notice to the respondent. Case-Laws Income Tax Mon, 13 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187282