ORDER :

1. Delay condoned. Learned Counsel for the Appellant submits that in view of the decision of this Court in Topman Exports v. CIT [2012] 342 ITR 49 : 205 Taxman 119 : 18 taxmann.com 120, this Civil Appeal deserves to be allowed and the matter needs to be sent back to the Assessing Officer.

2. On the other hand, the submission of the Learned Counsel for the Appellant is contested by Mr. R.P. Bhatt, learned senior counsel for the Revenue.

3. Having regard to the controversy involved in the matter, we are satisfied that this matter is squarely covered by the decision of this Court in Topman Exports case (supra).

4. In Topman Exports case (supra) this Court concluded as follows:

The aforesaid discussion would show that where an Assessee has an export turnover exceeding Rs. 10 crores and has made profits on transfer of DEPB under Clause (d) of Section 28, he would not get the benefit of addition to export profits under third or fourth proviso to Sub-section (3) of Section 80HHC, but he would get the benefit of exclusion of a smaller figure from "profits of the business" under Explanation (baa) to Section 80HHC of the Act and there is nothing in Explanation (baa) to Section80HHC to sho