Allowed
The Commissioner of the Income v. M/S P & G Enterprieses P. Ltd.
Delhi HCITA/433/2005
Case brief
AI extract
What is this about?
The Supreme Court Bench reviewed an Income Tax appeal regarding deductions for export houses and sale of DEPB receipts, referring to prior Supreme Court precedents to direct reassessment without passing a separate order on costs.
What did the court decide?
The Assessing Officer is directed to re-compute the deduction under Section 80HHC applying principles from IPCA Laboratories Ltd. and Tompom Exports cases.