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TMI Blog2012 (3) TMI 718X X X X Extracts X X X X X X X X Extracts X X X X ..... ppellant : Dr. Yogesh Kamath For the Respondent: None ORDER These are cross appeals filed by the Revenue and assessee respectively. Revenue in its appeal is aggrieved that CIT(Appeals) directed the A.O. to compute the eligible deduction under Section 80HHC of Income-tax Act, 1962 (in short 'the Act') without first deducting the deduction available to the assessee under Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 009 dated 27.10.2009) had, after considering its decision in the case of SCM Creations v. ACIT (304 ITR 319) as also plethora of various High Courts and Supreme Court decisions, held that law laid down by the court in the case of SCM Creations (supra) could be taken as a view accepted by the Department. The same view has been taken by Hon ble jurisdictional High Court in the case of DCIT v. Chola ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that receipts of DEPB and Duty Drawback could not be considered as income derived from industrial undertaking, ld. CIT(Appeals) s order could not be faulted with. Ld. CIT(Appeals) had held that income from DEPB sales and interest receipt on margin money deposit had to be excluded while calculating deduction under Section 80-IB of the Act. Revenue is also supported by the decision of Hon ble Apex ..... X X X X Extracts X X X X X X X X Extracts X X X X
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