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TMI Blog2011 (1) TMI 749X X X X Extracts X X X X X X X X Extracts X X X X ..... rs & Chemicals (2010 -TMI - 76895 - BOMBAY HIGH COURT), the matter was remanded to the Tribunal for fresh decision in accordance with law - Decided against the assessee - I.T.A. No.764 of 2010 - - - Dated:- 10-1-2011 - MR. JUSTICE ADARSH KUMAR GOEL, MR. JUSTICE AJAY KUMAR MITTAL, JJ. Mr. Rajesh Katoch, Advocate for the appellant. ADARSH KUMAR GOEL, J. 1. This appeal has been p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) Whether on the facts and circumstances of the case, the ITAT was right in law in holding that the word profit referred to in Sections 28(iiid) and 28(iiie) of the Income Tax Act, 1961 means the difference between the sale price of DEPB and the face value of DEPB ignoring the fact that the entire amount represents the profit in the hands of assessee? (iv) Whether on the facts and circumstan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deduction u/s 80HHC of the Income Tax Act, 1961 was rightly computed in accordance with amendment made by the Taxation Laws (Amendment) Act, 2005 with retrospective effect from 01.04.1998? (vii) Whether on the facts and circumstances of the case, the Hon ble Income Tax Appellate Tribunal is justified in law in not holding that 90% amount of DEPB was rightly excluded while working Profits of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o inserted by the Taxation Laws (Amendment) Act, 2005 as the export turnover of the assessee company is more than Rs.10 Crores? (x) The decision of Hon ble Special Bench of Mumbai Tribunal, in the case of M/s Topman Exports 318 ITR 87 (Mum) (SB) by relying upon which the Hon ble ITAT Chandigarh decided the issue of deduction u/s 80 HHC on DEPB against the Department, has been reversed by the H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gment of the Bombay High Court in CIT v. Kalpataru Colours Chemicals 2010 (42) DTR 193, the matter was remanded to the Tribunal for fresh decision in accordance with law. 3. Since we find that the matter is covered by earlier orders of this Court, we dispose of this appeal in same terms. For this purpose, we have not considered it necessary to issue notice to the respondent, but we give libe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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