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TMI Blog2010 (2) TMI 907X X X X Extracts X X X X X X X X Extracts X X X X ..... duction u/s 80HHC – Whether the appellate authorities were correct in not taking into consideration the Explanation to section 80HHC r.w.s. 80AB which clearly enunciates that for the purpose of com-putation of deduction under section 80HHC of the total turnover including all expenses should be taken into consideration - Held that:- In view of Lakshmi Machine Works(2007 (4) TMI 202 - SUPREME Court] ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) which has been further affirmed by the Income-tax Appellate Tribunal, Bangalore, in I. T. A. No. 1253/Bang/2002, dated July 4, 2005 for the assess-ment year 1997-98. 2. The appeal was admitted to answer the following substantial questions of law : "(1) Whether the Tribunal was correct in holding that the sales tax and excise duty collected during the assessment year should not form part of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot dispute that questions Nos. 1 and 2 are answered against the Revenue by the hon'ble Supreme Court in CIT v. Lakshmi Machine Works reported in [2007] 290 ITR 667 (SC). In view of the same, the said questions are answered against the Revenue and in favour of the assessee. 5. So far as the last point is concerned, the question that has to be con-sidered by us is whether the membership fee payabl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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