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TMI Blog2017 (9) TMI 167X X X X Extracts X X X X X X X X Extracts X X X X ..... f brought forward losses and unabsorbed depreciation, the Assessee was left with any income and the deduction under Section 80 HHC should be worked out on the basis of the turnover of the garments division only - Held that:- The judgment of the Supreme Court in IPCA Laboratories vs. Dy. Commissioner of Income Tax, Mumbai, (2004 (3) TMI 9 - SUPREME Court) where it has been categorically held th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A No.3807/Del/1999 for the Assessment Year ( AY ) 1995-96. 2. While admitting this Appeal on 24th March, 2006, the following question of law was framed for consideration: Whether, on the facts and circumstances of the case, the Tribunal was right in its conclusion that the total turnover in Section 80 HHC of the Income-tax Act, 1961 is only the turnover relating to the export business of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to brought forward losses/depreciation amounting to ₹ 1,76,90,248/- only. After adjustment of the said sum, the Assessee was held entitled to deduction under Section 80HHC in the sum of ₹ 8,25,694/- only. 4. The Assessee's appeal was allowed by the Commissioner of Income Tax (Appeals) [CIT (A)] by order dated 25th June, 1999. It was held that the two export divisions had to be t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll business put together. The order of the CIT(A) was set aside on this point and the AO was directed to work out the deduction under Section 80 HHC on the basis indicated in the order. 6. Learned counsel for the Revenue has drawn the attention of this Court to the judgment of the Supreme Court in IPCA Laboratories vs. Dy. Commissioner of Income Tax, Mumbai, (2004) 266 ITR 521 (SC) where it has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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