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TMI Blog2009 (1) TMI 63X X X X Extracts X X X X X X X X Extracts X X X X ..... n, for the Apopellant. Mr.S.G. Dalal, for Respondent. JUDGMENT The judgment of the court was delivered by F.I. REBELLO, J - The Revenue has preferred this Appeal on the following question:- "(A) Whether on the facts on in the circumstances of the case and law, the Hon'ble I.T.A.T. is right in directing the A.O. to compute the deduction under Section 80HHC of the Act after the books of accounts having been closed/made up with the total export turnover ascertained, holding that the reduction in the invoice amount having been approved by the R.B.I., the original sales price stands modified to this extent and such modified price only should be included as part of export turnover?." 2. Before answering the question, it is ne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sment year or years in which the tax effect is less than the monetary limit specified in para.3. In other words, henceforth, appeals will be filed only with reference to the tax effect in the relevant assessment year." 4. Para.5 can be read in the following manner:- (1) The Assessing Officer shall claculate the tax effect separately for every assessment year in respect of the disputed issues in the case of every assessee. (2) If, in the case of an assessee, the disputed issues arise in more than one assessment year, appeal shall be filed, in respect of such assessment year or years in which the tax effect in respect of the disputed issues exceeds the monetary limit specified in para.3. (3) No appeal shall be filed in respect of an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, even in those cases where the tax effect is less than the monetary limit prescribed. 7. On behalf of the Revenue learned Counsel sought to contend before us that the expression "composite" is distinct from the expression "common" and for that purpose he sought to rely on Dictionary meaning of the word "composite" with Reference to Dictionary meaning from P. Ramanatha Aiyar Concise Law Dictionary, 1997 Edition. 8. On the other hand on behalf of the assessee learned Counsel submits that filing of an appeal is referable to the issues. In other words if in respect of an appeal which is to be filed where the monetary limit exceeds Rs.4.00 lakhs then in respect of the other years where the monetary effect is less the issue involved mus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... posite order of the High Court or appellate authority. In other words where the High Court or Tribunal has passed a composite order in respect of the same assessee on the same question and/or on different question and for one of the assessment years, the tax effect is more than the monetary limit then the appeal shall also be filed in respect of all the assessment years. The submission on behalf of the assessee is that the composite order must relate to a common issue. We beg to disagree on a plain and literal construction of the instruction. The expression "which involves more than one year" would have no meaning if it was restricted only to the expression "common issues". The expression, therefore, of a composite order will have to be rea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l of the R.B.I. to the extent of 30% The Respondents are a totally export oriented unit. Moneys, therefore, in terms of the approval granted by R.B.I. were brought in during the period as extended. The Tribunal in its order observed that once R.B.I. has agreed to deduction in the Invoice amount the original sales price stands modified and such modified price only should be taken as actual export value. It is further observed that such adjusted export value should only be included in the export turnover and the total turnover. The contention on behalf of the Revenue was that, that should be excluded from the export turn over. In our opinion, considering the facts and the provisions of Section 80HHC we cannot find fault with the conclusion ar ..... X X X X Extracts X X X X X X X X Extracts X X X X
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