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Issues involved:
The judgment involves the interpretation of various sections of the Income Tax Act, 1961 related to the treatment of profit on the transfer of Duty Entitlement Pass Book (DEPB) entitlement and the calculation of deduction under section 80HHC. ITA No. 301 of 2010: The revenue filed ITA No. 301 of 2010 under Section 260A of the Income Tax Act, 1961 against an order passed by the Income Tax Appellate Tribunal. The substantial questions of law raised include the treatment of total sale consideration inclusive of face value of DEPB and premium amount received, the calculation of profit on the transfer of DEPB entitlement, and the deduction under section 80HHC. The Tribunal's interpretation of the term "profit" under sections 28(iiid) and 28(iiie) was a key point of contention. Agreement on Covered Matters: In several other ITA cases, the parties agreed that the issues were already covered by a previous order dated 16.8.2010 in a specific case, Commissioner of Income-tax v. M/s F.C. Sondhi & Company (P) Ltd. Disposal of Appeals: For the remaining appeals where no notice was issued, the court decided to dispose of them in the same terms as the covered matters. It was deemed unnecessary to issue notices to the assessee due to the matters being already covered. The parties were directed to appear before the Tribunal for further proceedings on a specified date. Administrative Direction: An administrative direction was given for a copy of the order to be placed on the files of the connected cases for reference.
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