2006 (11) TMI 665 - HC - Income Tax

High Court affirms Tribunal's decision on export completion for assessment year 1993-94

The High Court considered an appeal regarding the interpretation of completion of export for the assessment year 1993-94, with reliance on a decision of ... - Issues involved: Interpretation of completion of export for assessment year 1993-94, reliance on decision of Bombay High Court, pending challenge before Supreme Court.Interpretation of completion of export: The High Court considered an appeal against the Income-tax Appellate Tribunal's order for the assessment year 1993-94. The Tribunal remitted the matter back to the Assessing Officer to decide whether the goods crossed the frontiers for the completion of export out of India. The Tribunal relied on the Bombay High Court's decision in Abdulgafar A. Nadiawala vs. ACIT & Others. The appellant mentioned that the Bombay High Court's decision is under challenge before the Supreme Court, with a pending Special Leave Petition.Reliance on Bombay High Court decision: The High Court acknowledged that the decision of the Bombay High Court holds the field currently. Despite this, due to the lack of clarity in the records regarding whether the goods crossed frontiers for export completion, the High Court agreed with the Tribunal's decision to have the Assessing Officer reconsider this aspect. Consequently, the High Court found no substantial question of law to entertain the appeal and dismissed it, along with the connected miscellaneous petition. No costs were awarded in this regard.