9911796707
TMI Blog2000 (11) TMI 51X X X X Extracts X X X X X X X X Extracts X X X X ..... d this appeal against the order passed by the Income-tax Appellate Tribunal, Bangalore (for short "the Tribunal"), in I.T.A. No. 2262/Bang of 1991, dated March 24, 1999, under section 260A of the Income-tax Act, 1961 (for short, "the Act"), raising the following two questions of law stated to be substantial questions of law arising from the order of the Tribunal : "(i) Whether the activity carrie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was not entitled to the investment allowance of Rs. 10,35,918 claimed by the assessee under section 32A of the Act. The Assessing Officer also held that the asses see was not entitled to deduction under section 80HHC of the Act on the exports made by it. The assessee being aggrieved against the order of the assessment, preferred an appeal before the Commissioner of Income-tax (Appeals-III). The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee. Following the aforesaid judgment of this court, we answer question No. (i) in the affirmative, i.e., against the Revenue and in favour of the assessee. Question No. (ii) has not been properly framed, An impression is given as if the Tribunal has allowed deductions under section 80HHC on the entire exports of granites both raw/unfinished granites as well as the finished granites lik ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ief of deductions under section 80HHC of the Act. The Commissioner of Income-tax (Appeals) directed the Assessing Officer to classify the exports into exports of cut and polished items and to allow the relief under section 80HHC of the Act, accordingly. The assessee had been denied deduction on the export of raw granites. The circular of the Board is binding on the authorities under the Act and th ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
