9911796707
TMI Blog2014 (2) TMI 188X X X X Extracts X X X X X X X X Extracts X X X X ..... ax (Appeals) and the Tribunal were justified in rejecting the method of calculation adopted by the assessing officer and allowing the exporter assessee to include commission paid to the agent in the export turnover – Decided against Revenue. - ITA. No. 171 of 2010 - - - Dated:- 24-1-2014 - Dr. Manjula Chellur And A. M. Shaffique,JJ. JUDGMENT Manjula Chellur, C.J. Heard learned Standing Counsel for the appellant as well as learned counsel for the respondent assessee. The substantial questions of law that arise for consideration in the appeal are as under: "Whether, on the facts and in the circumstances of the case is not the order of the assessing officer diminishing the export turnover by reducing the foreign commission and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of the present case are entirely different from the said judgment. The first appellate authority further opined that commission in the hands of the foreign agent has nothing to do with the export turnover of assessee. Accordingly, this amount of 54,70,456/- was allowed to be shown in the export turnover for the calculation purpose under Section 80HHC of the Act. This came to be challenged by the revenue before the Appellate Tribunal. The Appellate Tribunal, by placing reliance in the case of M/s.Travancore Mats and Mattings Co. (ITA.No.587/Coch/2007), opined that the said issue has to go against the revenue and confirmed the order of the Commissioner of Income Tax (Appeals). Aggrieved by the same, the present appeal is filed. 3. The ent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee. The term 'export turnover' is clearly defined under Explanation (b) to Section 80HHC(4C) of the Income Tax Act, which reads as under: "Explanation (b): "export turnover" means the sale proceeds, received in, or brought into, India by the assessee in convertible foreign exchange in accordance with clause (a) of sub-section (2) of any goods or merchandise to which this section applies and which are exported out of India, but does not include freight or insurance attributable to the transport of the goods or merchandise beyond the customs station as defined in the Customs Act, 1962 (52 of 1962);" 4. As long as the export turnover indicated in the return of income is as per the definition of 'export turnover' under the explanation ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
