https://www.taxtmi.com/caselaws?id=59708 The Tribunal upheld the CIT(A)'s revised computation of eligible profits for the assessee claiming deduction u/s 80HHC, allowing deduction on profit from the sale of DEPB entitlement. It held that profit on the sale of DEPB entitlement constitutes income chargeable to tax, considering the entire sale proceeds as profit due to lack of specific expenditure proof. The Tribunal dismissed Revenue's appeal to consider entire sale proceeds for proportionate increase of export profits, finding it misconceived and unsubstantiated by the Departmental Representative. en-us Wed, 05 Mar 2008 00:00:00 +0530 Fri, 31 Dec 2010 16:36:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59708 The Tribunal upheld the CIT(A)'s revised computation of eligible profits for the assessee claiming deduction u/s 80HHC, allowing deduction on profit from the sale of DEPB entitlement. It held that profit on the sale of DEPB entitlement constitutes income chargeable to tax, considering the entire sale proceeds as profit due to lack of specific expenditure proof. The Tribunal dismissed Revenue's appeal to consider entire sale proceeds for proportionate increase of export profits, finding it misconceived and unsubstantiated by the Departmental Representative. Case-Laws Income Tax Wed, 05 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59708