TaxTMI 
TaxTMI 
2010 (12) TMI 504
X X X X Extracts X X X X
X X X X Extracts X X X X
....is order will dispose of ITA Nos.630, 631, 632, 634, 635, 636, 637, 638, 640, 644, 647, 648, 649, 650, 653, 656 and 668 of 2010. 2. ITA No.630 of 2010 has been preferred by the revenue under Section 260A of the Income Tax Act, 1961 against order dated 31.8.2009 passed by the Income Tax Appellate Tribunal, Chandigarh Bench (A), Chandigarh in ITA No.55/CHANDI/2008 dated 31.8.2009, for the as....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e case, the Hon'ble Income Tax Appellate Tribunal is justified in law in not holding that 90% of profit on transfer of export incentives is not to be increased while computing profits u/s 90HHC(3)(a) as the assessee failed to fulfill the conditions as contained in Third or Fourth proviso inserted by the Taxation Laws (Amendment) Act, 2005 as the export turnover of the assessee company is more than....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e of DEPB ignoring the fact that the entire amount represents the profit in the hands of assessee? 7. Whether on the facts and circumstances of the case, the ITAT is right in law in deducting the face value of DEPB from sale price of DEPB for calculating profit under sections 28(iiid) and 28 (iiie) of the Income Tax Act, 1961 as if the face value is the cost incurred by the assessee to acq....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ome Tax Appellate Tribunal was justified in setting aside the issue to the file of the Assessing Officer for re-adjudication with the directions to the Assessing Officer to decide the issue keeping in mind the decision of the Special Bench in the case of M/s Topman Exports & others whereas the Assessing Officer had correctly reduced the amount of sale of scrap from the 'profits of the business' an....