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TMI Blog2015 (9) TMI 665X X X X Extracts X X X X X X X X Extracts X X X X ..... Assessing Officer while giving effect to this order, would examine whether or not, there is any income on net basis i.e. after reducing expenditure from gross receipts. It is only thereafter, if there is a positive income, the Assessing Officer would apply the provisions of clause (baa) of the Section 80HHC of the Act. - Decided against assessee. - Income Tax Appeal No. 987 of 2015 (Original Tax Appeal No. 59 of 2007 – Goa Bench) - - - Dated:- 8-9-2015 - M. S. Sanklecha And G. S. Kulkarni, JJ. For the Appellant : Ms Asha Desai, Adv For the Respondent : Mr Mihir Naniwadekar, Adv ORDER P. C. The challenge in this appeal under Section 160A of the Income Tax Act, 1961 (the 'Act') is to the order dated 11 Decemb ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on to section 80HHC, is right in law? (V) Whether the findings of the ITAT, that 90% of the 'net' income from receipts on account of 'stevedoring agency business' and 'travel agency business' are falling within the exclusive provision of clause (baa) of explanation to section 80HHC, is right in law? (VI) Whether in facts and circumstances of the case, the ITAT has erred in applying the provision of Section 172 in holding that section 40(a)(i), is not applicable, particularly when section 172 concerned with levy and recovery of tax in a case of any ship, as against section 195 r/w 40(a) (i) of the IT Act, refers to non resident Assessee as in the present case? (VII) Whether the findings of the ITAT, tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppeal is, Question No.IV. Both the CIT(A) as well as the ITAT by the impugned order, have taken a view that the receipt on account of electronic data processing and professional services is not income but in the nature of reimbursement of expenses. Therefore, no occasion to invoke clause (bba) of Explanation to 80HHC of the Act, would arise. 6. Mr. Naniwadekar, learned Counsel for respondent-assessee states that even if one accepts the revenue's contention that the receipts attributable to electronic data processing and professional services is income and not reimbursement of expenses, the issue would be academic. This is because if 'net' income is determined i.e. income after excluding expenses from the gross receipts is don ..... X X X X Extracts X X X X X X X X Extracts X X X X
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