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JUDGMENT Akil Kureshi, J. - Though somewhat different question was framed at the time of admitting the appeal, we re-frame the questions as under :- "(A) Whether on the facts and circumstances of the case, the amount earned on account of rate difference due to fluctuation of foreign exchange can be considered for the purpose of calculating profits for deductions under Section 80HHC of the Income Tax Act, 1961 ?" (B) Whether on the facts and circumstances of the case, the amount received on sale of DEPB license and foreign exchange fluctuation of rate difference can be considered for the purpose of deductions under Section 80IA of the Income-Tax Act, 1961 ?" 2. So far as Question (A) is concerned, this Court in Tax Appeal No. 1468 of 2006 and connected appeals, by a judgment dated 12th March 2014, held the issue in favour of the assessee. Such question is therefore answered accordingly. 3. Question (B) has two facets-one pertains to income arising out of sale of DEPB license for the purpose of deduction under section 80-IA of the Act in view of the decision of Supreme Court in case of Liberty India v. CIT [2009] 317 ITR 218/183 Taxman 349 holding this issue in favour of the Department and against the assessee. The second aspect of question is foreign exchange fluctuation for the purpose of deduction under Section 80IA of the Act. This issue would be covered by the judgment of this court in Tax Appeal No. 1468 of 2006-since reported in Priyanka Gems (supra) and connected appeals. It is true that the said decision was rendered in the background of section 80HHC of the Act. Counsel for the Revenue would contend that section 80-IA of the Act would stand on a different footing since the requirement is that the profit must have been derived from the eligible business. We had, however, examined this issue from all angles and held as under (page 589 of 367 ITR): "Under the circumstances, we have no hesitation in upholding the view of the Tribunal. Quite apart, the issue is substantially covered by the decision of the CIT v. Amba Impex [2006] 282 ITR 144 (Guj.). Consistent and at times independent trend of the judicial pronouncements of Courts across the country need not…

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