Supreme Court · 2012 INSC 81 · Decided 8 February 2012
Vikas Kalra v. The Commissioner of Income Tax-Viii, New Delhi
- Court
- Supreme Court of India
- Citation
- 2012 INSC 81 · [2012] 3 S.C.R. 273
- Case number
- CIVIL APPEAL No. 1915/2012
- 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 80
Headnote
A B Income Tax Act, 1961 - ss. 80 HHC and 28(iiid) - Deductions in respect of profits retained for export business C - Claim for, by exporter-Assessing Officer held that the entire sale value of Duty Entitlement Pass Book (DEPB) represents profit on transfer of DEPB u!s 28(iiid) and u/s 80 HHC - Order upheld by Commissioner of Income Tax (Appeals) - Appellate Tribunal D relying on a decision of Special Bench of the Tribunal in Ml s Topman Exports holding that the face value of DEPB would be cash assistance against export and would fall u/s 28 (iiid) and
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