https://www.taxtmi.com/caselaws?id=11768 The court ruled in favor of the assessee on all questions presented in the case. The sale proceeds from the transfer of the export license were deemed a capital receipt exempt from income tax. The provisions of section 28(iiia) were found not applicable, and the receipt was not taxable under capital gains due to unascertainable cost of acquisition. The court also allowed the deduction under section 80HHC without the audit report being filed along with the return, stating it as a procedural requirement, not mandatory. The reference was dismissed with no costs. en-us Tue, 29 Apr 2003 00:00:00 +0530 Mon, 08 Feb 2010 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11768 The court ruled in favor of the assessee on all questions presented in the case. The sale proceeds from the transfer of the export license were deemed a capital receipt exempt from income tax. The provisions of section 28(iiia) were found not applicable, and the receipt was not taxable under capital gains due to unascertainable cost of acquisition. The court also allowed the deduction under section 80HHC without the audit report being filed along with the return, stating it as a procedural requirement, not mandatory. The reference was dismissed with no costs. Case-Laws Income Tax Tue, 29 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11768