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of <h1>Tax Appeals: CIT(A) orders, Sec 147, u/s 80HHC validity challenged. Tribunal allows appeals, remits for recomputation.</h1> The appeals consolidated by the Tribunal challenged orders for different assessment years, focusing on the validity of the CIT(A)'s order, initiation of ... Deduction u/s 80HHC on transfer of DEPB - Held that:- Allow the appeals of the assessee on this issue and remit the issue back to the file of the AO for re-computing the deduction admissible u/s 80HHC by keeping in view the judgment of the Hon’ble Jurisdictional High Court in the case of M/s Priknit Exports Vs ACIT (2013 (10) TMI 315 - PUNJAB AND HARYANA HIGH COURT).- Decided partly allowed in favour of assessee for statistical purposes. Issues involved:1. Appeal against separate orders for assessment years 2001-02, 2004-05, and 2002-03.2. Validity of CIT(A)'s order and initiation of proceedings under Section 147.3. Reduction of deduction u/s 80HHC and exclusion of profit from the transfer of DEPB licenses.Detailed Analysis:1. The appeals by the assessee challenged orders for different assessment years. The Tribunal consolidated the appeals due to similar issues. Grounds raised included the legality of the CIT(A)'s order and the initiation of proceedings under Section 147. Some grounds were not pressed, while others related to the deduction u/s 80HHC. The issue of deduction on DEPB transfer was crucial.2. Regarding the deduction u/s 80HHC, the Tribunal noted that a similar issue was addressed in a previous order concerning M/s Groz Net Industries. The Tribunal considered the arguments of both parties and examined the relevant legal provisions. The Tribunal referred to the findings in the previous order related to the recomputation of deduction under sec. 80HHC post the Taxation Laws (Amendment) Act, 2005.3. The Tribunal analyzed the decisions of various High Courts and the Supreme Court on the retrospective application of the Taxation Laws (Amendment) Act, 2005. It considered the judgments of the Gujarat High Court and the Punjab & Haryana High Court on this matter. The Tribunal allowed the appeals of the assessee and remitted the issue back to the Assessing Officer for recomputing the deduction u/s 80HHC in line with the judgments of the High Courts.4. The Tribunal emphasized the importance of following the legal precedents set by the High Courts and the Supreme Court in similar cases. It highlighted the need for consistency in applying legal principles across different cases. The decision to remit the issue back to the Assessing Officer was based on ensuring compliance with the legal interpretations provided by the High Courts. Ultimately, the appeals of the assessee were partly allowed for statistical purposes.This detailed analysis showcases the Tribunal's thorough consideration of the legal aspects involved in the judgment, focusing on the interpretation and application of relevant tax laws and precedents set by higher courts.
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