1998 (6) TMI 57

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..... bates are receipts by way of brokerage, commission, interest, rent, charges or any other receipt of a similar nature within the meaning of clause (baa) of Explanation under sub-section (4A) of section 80HHC of the Income-tax Act, 1961 ? 2. Whether, on the facts and in the circumstances of the case, the above payments of the exporters and shipping agents are not towards the price of the goods exported for or on their behalf ? 3. Whether, on the facts and in the circumstances of the case, the above amount received by the assessee is includible in the 'total turnover' for purposes of section 80HHC? The assessee is the proprietor of Lakshmi Marine Products, dealing in marine products. For the assessment year 1982-83, he filed a return of .....

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..... f goods shall be allowed. Sub-section (1A) of section 80HHC enables a supporting manufacturer also to get the same benefit which accrues to an exporter under sub-section (1) of section 80HHC. Clause (baa) to the Explanation below sub-section (4A) defines "profits of the business" meaning the profits of the business as computed under the head "Profits and gains of business or profession" as reduced by---(1) ninety per cent. of any sum referred to in clauses (iiia), (iiib) and (iiic) of section 28 or of any receipts by way of brokerage, commission, interest, rent, charges or any other receipt of a similar nature, included in such profits. The assessing authority found that the premium/incentive received by the assessee-admittedly, falling u .....

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..... ion under sub-section (1A) of section 80HHC of the Income-tax Act." The question for consideration is whether the bald order of this type passed by the Appellate Tribunal, can be approved. In CIT v. Greaves Cotton and Co. Ltd. [1968] 68 ITR 200, the apex court observed as under : "We have, therefore, reached the conclusion that the question of law referred to the High Court cannot be answered in view of the defective finding by the Appellate Tribunal which is recorded without consideration of all evidence. It will be open to the Appellate Tribunal to rehear the appeal under section 66(5) of the Act and record a clear finding after hearing the parties and after considering all the relevant material in the case..." In view of the afores .....

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