Bombay High Court Allows Revenue's Appeal on DEPB Sale Profits and Export Deduction Computation. The Court held that the entire amount received on sale of DEPB entitlements is chargeable under Section 28(iiid) of the Income Tax Act, 1961, and that freight and insurance costs are not to be excluded from direct costs for computing deduction under Section 80HHC.
7 Jul 2010The appeal by the Revenue under the Income Tax Act, 1961, raised four substantial questions of law concerning the treatment of profits from the sale o...




