TaxTMI 
TaxTMI 
2017 (3) TMI 272
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.... (PER : HONOURABLE MR.JUSTICE M.R. SHAH) 1.00. Feeling aggrieved and dissatisfied with the impugned judgement and order passed by the learned Income Tax Appellate Tribunal dated 12/9/2008 passed in ITA No.3054/Ahd/2004 for A.Y. 1999-2000 by which the learned tribunal has dismissed the said appeal preferred by the revenue, the revenue has preferred the present Tax Appeal to consider the followin....
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....form of DEPB Licenses were not eligible to be considered for the purpose of granting benefits under section 80HHC, on the ground that the same were not covered under section 28(iiia) to 28(iiic) of the Act. 2.01. Feeling aggrieved and dissatisfied with the impugned reassessment order and more particularly order passed by the A.O. that the assessee is not entitled to deduction under section 80HHC ....
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.... of CIT(A). Considering the facts and circumstances of the case, more particularly considering the case on behalf of the assessee that it has not transferred benefits of DEPB Licenses to any party, by the impugned judgement and order the learned tribunal has confirmed the order passed by the learned CIT(A) remanding the matter to the A.O. and consequently dismissed the appeal preferred by the reve....
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....by the Hon'ble Supreme Court that if the assessee has not transferred and/or sold the DEPB Licenses, in that case, the assessee is entitled to deduction under section 80HHC. It is further observed and held by the Hon'ble Supreme Court that in case the assessee has transferred / sold DEPB Licenses, the profit earned by selling the DEPB Licenses only is required to be considered and to that ....