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TMI Blog2001 (9) TMI 67X X X X Extracts X X X X X X X X Extracts X X X X ..... e, the Income tax Appellate Tribunal was justified in cancelling the orders of the Commissioner of Income-tax (Appeals)-I Hyderabad, passed under section 263 of the Income-tax Act, 1961? 3. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the assessee need not export the same goods to get deduction on the incremental turnover under section 80HHC(1)(b) of the Income-tax Act, 1961?" The assessee-company filed a return for the assessment year 1983-84 declaring nil income. The assessment was completed by the Income-tax Officer on March 26, 1986, on a total income of Rs.23,27,310. The Commissioner of Income-tax revised the said order under section 263 of the Income-tax Act after forming a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (1) speaks about export of any goods or merchandise, whereas clause (b) which deals with deduction refers to turnover of "goods and merchandise". The qualifying words 'such goods" occurring in clause (b) are undoubtedly referable to "any goods or merchandise" occurring in sub-section (1). If that is so the view taken by the Commissioner of Income-tax cannot be sustained. The Commissioner of Income-tax has taken the view that the goods in order to qualify for deduction should be the same. In this context, the judgment of the Calcutta High Court in CIT v. Indian Products Ltd. [1994] 207 ITR 647, may be referred. In that case, during the relevant previous years, the assessee-company exported tea, jute and coffee. The assessee-company claimed r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evant previous year and under clause (b) a deduction of an amount equal to five per cent. of the amount by which the export turnover of the qualifying goods or merchandise during the previous year exceeds the export turnover of such qualifying goods or merchandise during the immediately preceding previous year. In other words for the purposes of clause (b) one has to compare the aggregate export turnover of all qualifying goods or merchandise during the relevant previous year with the aggregate export turnover of all qualifying goods or merchandise during the immediately preceding previous year. No individual classification of the qualifying goods or merchandise is contemplated either in clause (a) or clause (b). The interpretation that we ..... X X X X Extracts X X X X X X X X Extracts X X X X
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