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TMI Blog2012 (8) TMI 774X X X X Extracts X X X X X X X X Extracts X X X X ..... inter-dependency, the income earned from export goods from the Bangalore Unit merited to be considered independently for 100% relief as one falling under Section 80HHC(3)(a) of the Income Tax Act, the question of applying the formula did not arise - the assessment on the relief under Chapter VIA be set aside and the matter be remanded back for working out the relief, keeping however in the background that the relief under Chapter VIA cannot exceed the business income arrived at by the Officer. - Tax Case Appeal Nos.2200 and 2201 of 2006 - - - Dated:- 8-8-2012 - MRS.JUSTICE CHITRA VENKATARAMAN, MR.JUSTICE K.RAVICHANDRABAABU, JJ. For appellant : Mr.V.S.Jayaraman For respondent : Mr.Arun Kurian Joseph Standing Counsel for I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner of Income Tax (Appeals) rejected this plea and also upheld the charging of interest. The assessee went on appeal before the Income Tax Appellate Tribunal, who confirmed the order of the Commissioner of Income Tax (Appeals), applying the decisions reported in [2003] 263 ITR 307 (Mad) (Commissioner of Income-tax v. Holiday Travels P. Ltd.) and [2006] 279 ITR 123 (P H) (Commissioner of Income-tax v. Upper India Steel Mfg. and Engg. Co. Ltd.). 3. Learned counsel appearing for the assessee fairly stated before this Court that the issue as regards the levy of interest under Section 234B and 234C of the Income Tax Act while computing the total income under Section 115 JA is covered by the decision of the Apex Court reported in [2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee fairly submits that the said question is not pressed and hence dismissed as not pressed. The fourth question, being similar to the issue decided in Tax Case Appeal No.2200 of 2006, stands rejected. Hence, the only question that survives for consideration in this Tax Case is the second substantial question of law as regards the deduction under Section 80HH, 80I and 80IA. 6. As far as the second substantial question of law is concerned, a perusal of the order of the Assessing Officer shows that the total business income of the assessee was calculated at Rs.1,02,89,059/- and the deduction under Chapter VIA was to the tune of Rs.12,81,76,101/- and in terms of Section 80AB, the deduction was restricted to Rs.1,02,89,059/-, being the bus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t merited to be considered independently for 100% relief as one falling under Section 80HHC(3)(a) of the Income Tax Act. Learned counsel pointed out that considering the above-said decision, the assessment on the relief under Chapter VIA be set aside and the matter be remanded back for working out the relief, keeping however in the background that the relief under Chapter VIA cannot exceed the business income arrived at by the Officer. 8. Recording the said statement, satisfied of the claim of the assessee, in the absence of any facts relating to separate maintenance of accounts thus discussed in any of the orders of the authorities below, interest of justice requires that the assessment merits to be set aside and remanded back to the A ..... X X X X Extracts X X X X X X X X Extracts X X X X
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