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Appeal allowed for Section 80HHC deduction re-computation. Assessee's appeal partly allowed for re-adjudication. The Revenue's appeal was deemed allowed for statistical purposes, as the Assessing Officer was directed to re-compute the deduction under Section 80HHC in ...
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Appeal allowed for Section 80HHC deduction re-computation. Assessee's appeal partly allowed for re-adjudication.
The Revenue's appeal was deemed allowed for statistical purposes, as the Assessing Officer was directed to re-compute the deduction under Section 80HHC in view of the amended provisions of the law. The assessee's appeal was deemed partly allowed for statistical purposes, with the matter set aside to the Assessing Officer for re-adjudication considering the stand taken in preceding and subsequent years.
Issues involved: Two appeals - one by the Revenue and the other by the assessee against the order of the Commissioner of Income Tax (Appeals)-XIV, Ahmedabad dated 12.03.2004 arising out of the order of the Assessing Officer passed u/s 143(3) of the Income Tax Act, 1961.
ITA No.1683/Ahd/2004 : A.Y.1999-2000 (Revenue's appeal)
Issue 1: Whether the loss at the first limb of section 80HHC(3) should be ignored and taken as "Nil" for computation of deduction u/s 80HHC.
- The Taxation Laws Amendment Act, 2005 introduced provisos with retrospective effect, necessitating re-computation of deduction under Section 80HHC. - The Assessing Officer directed to re-compute deduction under Section 80HHC in view of the amended provisions of the law.
Issue 2: Whether the assessee should be allowed division-wise exports profitability for deduction under section 80HHC.
- Disagreement on allowing deduction on division-wise profit; various judicial pronouncements cited by both parties. - The matter set aside to the Assessing Officer for re-adjudication considering the stand taken in preceding and subsequent years.
ITA No.1698/Ahd/2004 : A.Y.2000-2001 (Assessee's Appeal)
Issue 1: Interpretation of proviso to Section 80HHC(3)(b) regarding "Total Turnover" and "Export Turnover."
- Issue already set aside by ITAT for re-computation by the Assessing Officer. - Matter restored back to the Assessing Officer for appropriate claim determination.
Issue 2: Disallowance of payment made in cash for purchases from a public sector undertaking under Section 40A(3).
- Disallowance upheld as payment to a public sector undertaking not equated with payment to the government. - Alternative request for computation of deduction under Section 80HHC accepted based on profit determined after disallowance.
In conclusion, the Revenue's appeal is deemed allowed for statistical purposes, while the assessee's appeal is deemed partly allowed for statistical purposes.
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