9911796707
TMI Blog2007 (4) TMI 175X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome - ITA 118/2007 - - - Dated:- 16-4-2007 - M. M. KUMAR and RAJESH BINDAL JJ. JUDGMENT The judgment of the court was delivered by RAJESH BINDAL J.— The assessee has approached this court, by filing the present appeal, raising the following substantial questions of law, arising out of order dated August 31, 2006, passed by the Income-tax Appellate Tribunal, Chandigarh Bench "A", Ch ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee which is a private limited company, filed its return of income on November 30, 1998, declaring the same at Rs. 20,51,900. The same was processed under section 143(1)(a) of the Income-tax Act, 1961 (for short, "the Act") on July 30, 1999. Thereafter, the case was picked up for scrutiny and remained under consideration. During the financial year in question, survey under section 133A of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dded in the business income and benefit was sought to be claimed therein. The claim made by the assessee, on that account, was rejected by the Assessing Officer vide order dated December 28, 2000. In appeal against the order of assessment, the assessee succeeded before the Commissioner of Income-tax (Appeals). 3 In further appeal before the Tribunal, the order passed by the Commissioner of Inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he stock found short at the time of survey has necessarily to be considered as exported and the income derived therefrom as income from export earnings. Similar arguments raised by the assessee in I. T. A. No. 302 of 2005 National Legguard Works v. CIT [2007] 288 ITR 18 (P H) was rejected by this court vide order dated September 22, 2006. It was held therein that the deduction under section ..... X X X X Extracts X X X X X X X X Extracts X X X X
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