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S.80HHC – DEPB credit falls under s. 28 (iiib) & DEPB premium falls under Section S.28(iiid)
Case Law Details
- Case Name
- Pal Enterprises Vs CIT (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
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HIGH COURT OF DELHI
Date of Decision: 26th March, 2012.
+ ITA 1191/2011
PAL ENTERPRISES Vs. CIT
ORDER
SANJIV KHANNA,J: (ORAL)
Having heard counsel for the parties, we frame the following substantial question of law:
“Whether the Income Tax Appellate Tribunal has erred in holding that duty entitlement pass book credit was cash assistance within the meaning of clause (iiib) to Section 28 of the Income Tax Act, 1961 and the entire amount including the premium received on transfer of DEPB was “profit” under clause (iiid) of Section 28 of the aforesaid Act and accordingly...
