Supreme Court · 2012 INSC 83 · Decided 8 February 2012
M/S Topman Exports v. Commissioner of Income Tax, Mumbai
- Court
- Supreme Court of India
- Citation
- 2012 INSC 83 · [2012] 4 S.C.R. 684
- Case number
- CIVIL APPEAL No. 1699/2012
- Decided
- 8 February 2012
- Bench
- S.H. KAPADIA, A.K. PATNAIK, SWATANTER KUMAR (3-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 28(iiib), 28(iiid)
Headnote
Income Tax Act, 1961 - ss. 28(iiib) & (iiid) and s.80HHC C - Assessment Year 2002-2003 - Whether the entire amount received by an assessee on sale of Duty Entitlement Pass Book ('DEPB') represents profit on transfer of DEPB u/ s.28(iiid) for purpose of computation of deduction retained for export business u/s. 80HHC - Held: o DEPB_ is "cash assistance" receivable by a person against exports under the scheme of the Government of India and falls under clause (iiib) of s.28 and is chargeable to income tax under the head "Profits and Gains of Business or
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)