2004 (4) TMI 272

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....earned CIT(A) dt. 21st Dec., 2001 for asst. yr. 1997-98. The only grievance of the assessee is against disallowance of deduction of Rs. 3,24,727 claimed under s. 80HHC of the IT Act, 1961 (the Act). 2. The assessee is a 100 per cent exporter and had shown a profit of Rs. 3,24,747 in its P&L a/c. An equal amount of deduction was claimed under s. 80HHC of the Act by the assessee. The impugned amo....

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....d on account of exchange difference did not fall into any of these categories and hence was part of the total turnover only. In support of his contentions, the learned counsel relied on several decisions of the Tribunal. The learned Departmental Representative relied on the orders of the authorities below. 4. On due consideration of the matter, we are of the view that the assessee deserves to s....