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TMI Blog2016 (8) TMI 1459X X X X Extracts X X X X X X X X Extracts X X X X ..... ught to our knowledge on behalf of Revenue. Facts being similar Pahilajrai Jaikishin v/s. JCIT Mumbai [ 2013 (8) TMI 1049 - ITAT MUMBAI ] , following same reasoning, we are of the view that there is a reasonable cause for delay in filing the appeal, so in the interest of natural justice we condone the delay in filing the appeal and admit the appeal for adjudication. Nothing contrary was brought to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s) has erred in confirming the disallowance of deduction u/s.80HHC amounting to ₹ 38,18,344/- on export profit including DEPB incentive, excise duty refund and duty drawback." 2. Issue before us is regarding disallowance of deduction u/s.80 HHC amounting to ₹ 38,18,344/- on export profit including DEPB incentive, excise duty refund and duty drawback. 3. Learned Authorized Represent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t there is a reasonable cause for delay in filing the appeal, so in the interest of natural justice we condone the delay in filing the appeal and admit the appeal for adjudication. 5. Now coming to the merits of the case, we find that in the similar case issue was restored to the file of the Assessing Officer with the following direction. "4. We have perused the records and considered the mat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Ltd. (Supra) have not upheld the view taken by the Hon'ble High Court of Bombay and have confirmed the order passed by special bench of Tribunal on this is-sue, as per which the face value of DEPB has to be considered as income u/s 28 (iiib) and excess of sale price over the face value has to be considered as profit u/s 28(iii d). The deduction u/s 80HHC is, therefore, required to be compute ..... X X X X Extracts X X X X X X X X Extracts X X X X
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