9911796707
TMI Blog2005 (1) TMI 76X X X X Extracts X X X X X X X X Extracts X X X X ..... ee so as to entitle them to claim deduction under section 80HHC - This court cannot for the first time and without there being a factual finding recorded by the Tribunal in the light of the two Explanations examine the case in its appellate jurisdiction. It is for the Tribunal to first examine the facts of the case and give a finding whether a particular amount can be said to be a direct costs or indirect costs or neither of them – appeal allowed by way of remand - - - - - Dated:- 3-1-2005 - Judge(s) : A. M. SAPRE., ASHOK KUMAR TIWARI. JUDGMENT The judgment of the court was delivered by A.M. Sapre J.- This is an appeal filed by the Revenue (Commissioner of Income-tax) under section 260A of the Income-tax Act, 1961, against an ord ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ake into consideration the (i) interest said to have been paid by them on export packing credit limit, (ii) interest said to have been paid on term loan obtained for setting up of project, and lastly-depreciation calculated on computer installed or in other words, the question arises is whether the amount spent by the assessee in the aforementioned three heads can be said to be direct cost or indirect cost as defined in the Explanation to section 80HHC of the Act, dealing with the manufactured item exported by the assessee so as to entitle them to claim deduction under section 80HHC ibid. In the opinion of the Tribunal, the amount spent/used under the aforementioned three heads can be included in the cost of manufactured goods for the pur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s stated supra, they are "direct costs" and "indirect costs". Whether a particular amount satisfies the definition of direct costs or indirect costs is a question which needs to be decided on the facts and material brought on record by the assessee, before it is finally held that the deduction under section 80HHC is available to the assessee. When we read the impugned order of the Tribunal, we notice that the Tribunal has not even referred to the Explanation much less clauses (d) and (e) of the Explanation appended to section 80HHC. In other words, the only thing which the Tribunal was required to examine with reference to the three heads was whether they all or any of them fall and/or satisfy the requirement of Explanation (d) or (e) s ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
