2012 (6) TMI 228

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... nded to the Tribunal with specific direction to them to consider the eligibility of the respondent-assessees for benefits under the proviso introduced, and if the respondent-assessees are found eligible then only to consider the question of computation of the relief Expenditure on issue of bonus shares – Held that:- in view of the case of General Insurance Corpn. (2006 - TMI - 6547 - SUPREME Cou .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... xports v. ITO [2009] 33 SOT 337/[2010] 124 ITD 1 (Mum.) (SB). However learned standing counsel appearing for the appellant submitted that the Tribunal committed a fundamental error inasmuch as they have not considered eligibility of the respondent-assessees for deduction under Section 80HHC with respect to the profit on transfer of DEPB benefit. The benefit is extended to exporters through an amen .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 328 ITR 451/192 Taxman 435. The learned counsel appearing for the assessees submitted that SLP is pending against the said judgment. We do not think there is any need for us to consider whether we approve the decision of the Bombay High Court or not because in this case the issue is not on computation, but on the eligibility of the respondents, which the Assessing Officer found against them. Sinc .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X