2014 (3) TMI 941

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..... ing an export product, any amount realized by the assessees over and above the DEPB on transfer of the DEPB would represent profit on the transfer of DEPB and while the face value of the DEPB will fall under clause (iiib) of Section 28, difference between the sale value and the face value of the DEPB will fall under clause (iiid) of Section 28 – Decided against Revenue. - Tax Appeal No. 1401 of 2 .....

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..... nd in law, the ITAT erred in ignoring the clear provisions of sections 28(iv) of the IT Act under which, inter alia, the value of any benefit arising from business shall be charged to tax, and therefore whether the ITAT erred in not taking into account the whole credit received under DEPB Scheme as taxable under section 28(iv) and thus whether the ITAT's interpretation renders the provisions o .....

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