2011 (1) TMI 723

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..... usiness profit u/s 28(iiib) - Hence, the matter is covered in favour of the revenue by orders of this Court date(CIT v. M/s Victor Forgings) and ITA No. 299 of 2010 (CIT v. F.C. Sondhi) wherein after noticing the judgment of Bombay High Court in CIT v. Kalpataru Colours & Chemicals, the matter was remanded to the Tribunal for fresh decision in accordance with law.
MR. JUSTICE ADARSH KUMAR GOEL, .....

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..... case, the Hon'ble ITAT was justified in allowing deduction u/s 80HHC in respect of entire DEPB amount by incorporating the same in the computation of business profit u/s 28(iiib)? iii) Whether on the facts and in the circumstances of the case the Ld. ITAT was justified in placing reliance upon the decision of Income-tax Appellate Tribunal, Special Bench, Mumbi in the case of M/s Topman Exports V .....

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