2010 (2) TMI 1225 - AT - Income Tax

Summary

Issues involved: Appeal against order u/s. 143(3)/148 of the Income Tax Act, 1961 for A.Y. 2003-04.

Issue 1 - Deduction u/s. 80HHC:
The appellant raised the issue of claiming deduction u/s. 80HHC concerning DEPB receipt/duty drawback and premium on import licenses. The appellant relied on the decision of the Income Tax Appellate Tribunal, Special Bench, Mumbai, in the case of Topman Exports vs. I.T.O. The matter was considered, and it was decided to remand the issue back to the Assessing Officer (AO) for fresh adjudication in line with the Special Bench's decision. The appellant agreed to this course of action, ensuring the AO provides reasonable opportunities for the assessee to be heard during the fresh decision-making process. The appeal was partly allowed for statistical purposes.

Conclusion:
The Appellate Tribunal ITAT DELHI, comprising C.L. SETHI, Judicial Member, and Shamim Yahya, Accountant Member, pronounced the decision on 11th February, 2010, allowing the appellant's appeal partly for statistical purposes and remanding the issue of deduction u/s. 80HHC back to the AO for fresh adjudication based on the Special Bench's decision.