https://www.taxtmi.com/caselaws?id=305888 The Tribunal allowed the assessee's claim for deduction under the DEPB scheme, remanded the issue of alleged bogus purchases back to the AO for clarification, and directed fresh adjudication on the disallowance under section 14A. The Tribunal also remanded the denial of weighted deduction under section 35(2AB) for further examination and upheld the CIT(A)'s decisions on computation of 80IB deduction, eligibility for claiming deduction under section 80IB for Lease and License Manufacturing, eligibility of miscellaneous sales/processing charges for 80IB deduction, and deductibility of provision for loss on forward contracts. The Tribunal dismissed the eligibility of DEPB credit for 80IB deduction as infructuous and remanded the eligibility of sale of scrap for 80IB deduction back to the AO for clarification. en-us Fri, 25 Jul 2014 00:00:00 +0530 Thu, 29 Dec 2022 09:11:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305888 The Tribunal allowed the assessee's claim for deduction under the DEPB scheme, remanded the issue of alleged bogus purchases back to the AO for clarification, and directed fresh adjudication on the disallowance under section 14A. The Tribunal also remanded the denial of weighted deduction under section 35(2AB) for further examination and upheld the CIT(A)'s decisions on computation of 80IB deduction, eligibility for claiming deduction under section 80IB for Lease and License Manufacturing, eligibility of miscellaneous sales/processing charges for 80IB deduction, and deductibility of provision for loss on forward contracts. The Tribunal dismissed the eligibility of DEPB credit for 80IB deduction as infructuous and remanded the eligibility of sale of scrap for 80IB deduction back to the AO for clarification. Case-Laws Income Tax Fri, 25 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305888