Case Law Details
Case Name : CIT Vs. Kalpataru Colours and Chemicals (Bombay High Court)
Appeal Number : Income Tax Appeal (LODG.) No. 2887 of 2009
Date of Judgement/Order :
Related Assessment Year :
Courts :
All High Courts Bombay High Court
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Title: – DEPB sale proceeds cannot be broken down into “profits” and “face value”. The entire amount is “profits” for the purpose of section 80HHC read with section 28(iiid)
Brief : S. 28 (iiid) provides that “any profit on the transfer” of the DEPB shall be business profits. Under Explanation (baa) to s. 80HHC, 90% of “the sum referred to in s. 28(iiid)” has to be reduced from the business profits. Under the third Proviso to s. 80HHC (3), in the case of an assessee h
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