2007 (7) TMI 42

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..... bunal") arising out of its order dated December 1, 1997, in I. 1. A. No. 794 (ASR)/1991 relating to the assessment year 1989-90 for determining the following question of law "Whether, on the facts and in the circumstances of the case, the learned Income-tax Appellate Tribunal is right in law in dismissing the appeal of the Revenue against the order of the learned Commissioner of Income-tax (Appeals), holding that the assessee is justified in claiming deduction under section 80HHC of the Income-tax Act, 1961, of such profits as determined by the Assessing Officer and that there is no infirmity in the order of the learned Commissioner of Income-tax (Appeals) in directing to allow such deduction, with regard to the amount of addition of Rs. .....

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..... missioner of Income-tax, Special Range, Jalandhar served a notice of demand upon the assessee on March 9, 1990. On appeal the Commissioner of Income-tax (Appeals), vide order dated March 4, 1991, allowed certain relief including deduction under section 80HHC of the Act in relation to the addition of Rs. 150,000 made in the trading account. Accordingly, the total income of the assessee-firm stood reduced to Rs. 6,50,394 after allowing further deduction under section 8OHHC of the Act at Rs. 45,280. Peeling dissatisfied with the order dated March 4, 1991, passed by the Commissioner of Income-tax (Appeals), the Revenue filed second appeal before the Tribunal. The Tribunal, vide order dated December 1, 1997, dismissed the appeal of the Revenue a .....

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..... allowed, in computing the total income of the assessee, a deduction of the "profits" derived by the assessee from the export of such goods or merchandise: Provided that if the assessee, being a holder of an Export House Certificate or a Trading House Certificate, (hereafter in this section referred to as an Export House or a Trading House, as the case may be), issues a certificate referred to in clause (b) of sub-section (4A) that in respect of the amount of the export turnover specified therein, the deduction under this sub-section is to be allowed to a supporting manufacturer, then the amount of deduction in the case of the assessee shall be reduced by such amount which bears to the total profits of the export business of the assessee .....

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