2011 (2) TMI 290

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....OEL, J.   1. This order will dispose of ITA Nos.852 and 854 of 2010 as both the appeals involve common questions of law.   2. ITA No.852 of 2010 has been preferred by the revenue under Section 260A of the Income Tax Act, 1961 (for short, "the Act") against the order dated 31.8.2009 of the Income Tax Appellate Tribunal, Chandigarh Bench "A", Chandigarh in ITA No.749/Chandi/2006 for the ....

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.... difference between the sale price of DEPB and the face value of DEPB ignoring the fact that the entire amount represents the profit in the hands of assessee?   IV. Whether on the facts and circumstances of the case, the ITAT was right in law in deducting the face value of DEPB from sale price of DEPB for calculating profit under section 28(iiid) and 28(iiie) of Income Tax Act, 1961 as if th....