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TMI Blog2014 (5) TMI 970X X X X Extracts X X X X X X X X Extracts X X X X ..... mount realized by the assessees over and above the DEPB on transfer of the DEPB would represent profit on the transfer of DEPB – the matter is remitted back to the AO for fresh adjudication – Decided in favour of Assessee. Eligibility to claim deduction u/s 80IB of the Act - Whether amount of DEPB is derived from and eligible for claim on the true and correct interpretation of Section 80IB of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax Act, 1961 (in short the Act ) against the order dated 3.6.2.2008 passed by the Income Tax Appellate Tribunal, Chandigarh Bench B , Chandigarh (hereinafter referred to as the Tribunal ) in ITA No. 225/CHD/2008 for the assessment year 2004-05, claiming the following substantial questions of law:- I. Whether the Tribunal order is sustainable on the true and correct interpretation of the prov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er dated 11.1.2008 (Annexure A-2), the assessee as well as the revenue filed appeals before the Tribunal. The Tribunal vide order dated 3.6.2008 (Annexure A-3) dismissed the appeal of the assessee. Hence, the present Income Tax Appeal. 3. We have heard learned counsel for the parties. 4. Learned counsel for the parties are agreed that question No. (I) is covered by the judgment of the Hon ..... X X X X Extracts X X X X X X X X Extracts X X X X
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