2011 (10) TMI 654

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.... MEMBER This is the appeal filed by the assessee against the order dated 14.8.2008 of CIT(A)-XXV, New Delhi pertaining to A.Y. 2003-04 on the grounds agitated by the assessee. The appeal of the assessee was heard by the Co-Ordinate Bench on 15.9.2009 and allowed. A perusal of the said order shows that the ground nos. 1 and 2 before the Tribunal were in respect of computation of deduction u/s 80....

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....28 (iii b) at the time of accrual of income, that is, when the application for DEPB is filed with the competent authority pursuant to exports and profit in sale of DEPB representing the excess of sale proceeds of DEPB over its face value is liable to be considered u/s 28 (iii d) at the time of its sale. 3. The Revenue had filed the appeal in the High Court adjudicate at Bombay against the afore....