2011 (10) TMI 654

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..... er dated 14.8.2008 of CIT(A)-XXV, New Delhi pertaining to A.Y. 2003-04 on the grounds agitated by the assessee. The appeal of the assessee was heard by the Co-Ordinate Bench on 15.9.2009 and allowed. A perusal of the said order shows that the ground nos. 1 and 2 before the Tribunal were in respect of computation of deduction u/s 80 HHC in respect of DEPB credit wherein the Tribunal relied upon the .....

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..... lication for DEPB is filed with the competent authority pursuant to exports and profit in sale of DEPB representing the excess of sale proceeds of DEPB over its face value is liable to be considered u/s 28 (iii d) at the time of its sale. 3. The Revenue had filed the appeal in the High Court adjudicate at Bombay against the aforesaid decision of the Special Bench of the ITAT. The Bombay High .....

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..... ht of the submissions advanced it is considered appropriate to restore the issue back to the file of A.O. with the directions to decide the same in accordance with law, by way of a speaking order after giving the assessee a reasonable opportunity of being heard. 4. In the result the appeal of the assessee is allowed for statistical purposes. Order pronounced in the Open Court on 25th October .....

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